BAKU, Azerbaijan, Aug.17
By Zeyni Jafarov - Trend:
The Azerbaijan Mortgage and Credit Guarantee Fund will put up this year's third tranche of book-entry registered mortgage bonds at the Baku Stock Exchange (BSE) auction to be held on August 19, Trend reports with reference to the fund.
According to the fund, the bonds will amount to 55 million manat ($32.3 million).
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 August 2, 2021, the Central Bank of Azerbaijan registered the base prospectus for the issue of the fund’s book-entry interest-bearing mortgage bonds. The total volume of the issue is 55 million manat with the face value of one security at 1,000 manat ($588) and the interest rate on the bond at three percent.
According to the basic issue prospectus, the placement will be carried out by the method of the 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.