BAKU, Azerbaijan, March 18. The Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan will auction bonds worth 20 million manat ($11.77 million) at the Baku Stock Exchange (BSE) on March 29, Trend reports citing the BSE.
According to the BSE, the auction price of the securities is 1,000 manat ($588.5).
The face value of a bond is 1,000 manat ($588.5) at three percent interest.
The maturity period of the bonds is 22 years (7,920 days).
The placement underwriter is Unicapital Investment Company CJSC.
Bonds are issued by the Mortgage and Credit Guarantee Fund of Azerbaijan to secure financing of mortgage loans.