BAKU, Azerbaijan, June 9
By Zeyni Jafarov - Trend:
The Azerbaijan Mortgage and Credit Guarantee Fund will place book-entry registered mortgage bonds worth 50 million manat ($29.4 million) at the Baku Stock Exchange (BSE) auction on June 10, 2021, Trend reports with reference to the fund.
As reported, the securities will be offered for sale at a price of 1,000 manat ($588) per share.
The fund's statement noted that on April 16, 2021, the Central Bank of Azerbaijan registered the base prospectus for the issue of fund’s book-entry interest-bearing mortgage bonds. The total volume of the issue is 50 million manat ($29.4 million) with the face value of one security at 1,000 manat ($588) and the interest rate on the bond at 3 percent.
According to the basic issue prospectus, the placement will be carried out by the method of mass offer through the Baku Stock Exchange CJSC. Depository and registrar services will be provided by the National Depository Center (NDC) of Azerbaijan.
The bonds are issued by the Mortgage and Credit Guarantee Fund of Azerbaijan to ensure the financing of mortgage loans.