BAKU, Azerbaijan, June 1. The Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan will auction bonds worth 15 million manat ($8.8 million) at the Baku Stock Exchange (BSE) on June 2, Trend reports citing the BSE.
The face value of a bond is 1,000 manat ($588.5) at three percent interest.
According to the BSE, the auction price of the securities is 10.04 million manat ($5.9 million).
The maturity period of the bonds is 25 years (9,000 days). The placement underwriter is Unicapital Investment Company CJSC.
Bonds are issued by the Mortgage and Credit Guarantee Fund of Azerbaijan to secure mortgage finance.