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Yield on first issue mortgage bonds reduced in Azerbaijan

Business Materials 16 January 2013 15:18
A new deal with the bonds of the Mortgage Fund of Azerbaijan (AZ2001008682) was made on 10th of January in Baku Stock Exchange
Yield on first issue mortgage bonds reduced in Azerbaijan

Azerbaijan, Baku, Jan. 16 / Trend /

A new deal with the bonds of the Mortgage Fund of Azerbaijan (AZ2001008682) was made on 10th of January in Baku Stock Exchange. Within the framework of the deal PASHA Bank rendered market maker services and provided the sale of the bonds amounting to 1.5 million manat. A day later, on 11th of January the sale of bonds was recorded for the amount of 1 (one) million and 1.5 (one and half) million manat with the yield of 2,97% and 2,92%, respectively. It should be noted that the yield of these bonds reached 2,962% with the decrease of 0,008% due to the increased demand.

PASHA Bank - one of the backbone banks of the country - started rendering market maker services for mortgage bonds of the Mortgage Fund of Azerbaijan in the second half of 2012. Consideration the sound liquidity in the market the yield on 7-year mortgage bonds (AZ200100868) in the secondary market has dropped below 3 % and quotes currently within the range of 2.97 % - 2.99 %, member of the Bank's Board and the Chief Director for Investments, Taleh Kazimov said.

To date, there have been deals made in the amount of approx. Some 10,2 million manat within this corridor. Less than 4 years are left prior to the reimbursement of this paper that is secured by mortgage bonds.

We would like to remind that PASHA Bank was also the first to start rendering market maker services for corporate bonds. As per last year's results, PASHA Bank issued corporate bonds of four emitters (representatives of different areas, including the bank and telecommunications sectors) totaling about 70, 4 million manat.

The results of PASHA Bank's investment activity appreciated highly by the professional community, therefore the Bank was awarded "The Best Investment Bank of Azerbaijan" by EMEA Finance, the prestigious international financial journal.

PASHA Bank plans to continue strengthening its position as a market professional by organizing issues of new bond issuers, and to develop a market of securities.

The official exchange rate is 0,7849 AZN/USD on Jan. 16.

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