Placement of interest, secured by non-documentary registered bonds of the Azerbaijan Mortgage Fund (AMF) in the amount of 3 million manat will begin December 28, 2012 at the Baku Stock Exchange.
According to the fund bond sales will be conducted by public subscription. Ten-year securities will be offered for sale at the current price of 100.00%. If demand exceeds supply, all orders will be filled proportionally. The initial organizer of bonds' placement is Central Bank, which operates the AMF.
The prospectus registered bonds of the fund for a total amount of 40 million manat was registered by the State Committee for Securities on Friday. The nominal price of a bond is equal to AZN 1000, the interest rate of 3% per annum and maturity date - November 6, 2022. This is the first batch offered for sale.
In 2009-2012 the Mortgage Fund placed five issues for AZN 55 million, AZN 75 million, AZN 60 million, AZN 20 million and AZN 30 million each. - 15D -
Economics
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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