The auction on placement of bonds in the amount of 5 million manat belonging to Azerbaijan Mortgage Fund is scheduled for 1 April. According to the AMF website, the action is carried out in the framework of the ninth issue. There are 5,000 bonds denominated in one thousand manat for each security. The bonds will be exhibited at the price of 100.6500%.
AMF has placed bonds for 3 million manat from the ninth issue. Recall, the State Securities Committee (SSC) on December 30 last year registered the ninth AMF bond issue in the amount of 50 million manat. The emission is divided into 50,000 covered bonds denominated in one thousand manat per security. The maturity of the bonds is 10 years at a rate of 3% per annum.
From 2009 to 2015, the AMF within eight issues posted bonds totaling 340 million manat.
AMF was established in December 2005 and the next March it began to issue mortgage loans. Issuance of social mortgage (maximum size is 50 thousand manat at a rate no more than 4% per annum) financed from the state budget began in January 2007 and lasted for 6 months.
Mortgage loans on commercial terms are given in manat and only to Azerbaijani citizens. Loans are granted for a term of 3 to 25 years and the maximum loan must not exceed 50 thousand manat. A loan is granted at a rate of no more than 8% per annum. --17D-
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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