Placement of interest, secured by non-documentary registered bonds of the Azerbaijan Mortgage Fund (AMF) in the amount of AZN 5 million is to begin December 10, 2012 at the Baku Stock Exchange.
According to the fund, the sale of the bonds will be conducted by public subscription. Ten-year securities will be offered for sale at the current price of 102.25%. 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 for the registered bonds of the fund for a total amount of 30 million manat was registered by the State Committee for Securities in January 2012. The nominal price of a bond is equal to 1,000 manats, the interest rate is 3% per annum, and the maturity date is January 22, 2022. Today, the fund has posted AZN 20 million from the last issue.
In 2009-2012 Mortgage Fund placed issues for AZN 55 million, AZN 75 million, AZN 60 million and 20 million manats each. - 15D -
Economics
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