Auction on AMF bonds worth 3 million manat

BAKU/03.07.13/TURAN July 3, began the next auction of interest-bearing registered no documentary secured bonds of the Azerbaijan Mortgage Fund (AMF).

According to the Baku Stock Exchange (BSE) for trading securities in the amount of 3 million manat were delivered. According to the official site of the Exchange, it is the ninth part of the 6th prospectus registered in the State Committee for Securities (SCS) on December 21 last year. The total issue of the volume is 40 million manat. There are 40 thousand bonds with par value of 1 thousand manats. The bonds within the said issue are for 10 years, the maturity date is November 6, 2022.

The value of the bonds emitted by the rate of 3% per annum is 100.0583%.

As part of this issue, on the results of seven auctions, there were placed bonds worth 34 million manat. At the end of the previous five issues in 2009-2012 the Fund placed bonds worth 240 million manat.

AMF was established in December 2005 and in March 2006 began to issue mortgage loans. Disadvantageous to the commercial banks issuing mortgages social (maximum 50 thousand manat at a rate not exceeding 4% per annum) began in 2007, after six months was suspended.

June 1, 2009 renewed the process of mortgage loans, but in commercial terms (maximum 50 AZN for a period of 3 to 25 years at a rate of not more than 8% per annum) over 27 agent banks.

Last year, the volume of mortgage lending of funds via AIF was 74.77 million manat. - 17D-