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 January 21, 2013 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 100.2%. 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 of the registered bonds of the fund for a total amount of 40 million manat was registered by the State Committee for Securities in December last year. The nominal price of a bond is equal to 1 000 manats, the interest rate of 3% per annum, the maturity date is November 6, 2022. So far posted has been 15% (AZN 6 million) of this emission.
In 2009-2012 the Mortgage Fund has 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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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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