Today at the Baku Stock Exchange (BSE) began placing of the seventh tranche of the ninth issue of book-entry secured registered coupon bonds of the Azerbaijan Mortgage Fund (AMF) under the Central Bank of AR, totaling 5 million AZN.
According to the information on the website of BSE, the maturity of securities is from 14 September 2015 until 21 November 2024. They were exhibited at a price of 100.5333% of par. Most likely, they will be bought by the CBA, which acts as an organization involved in the initial public offering of bonds.
If the amount of the applications exceeds the offer, they will be satisfied proportionally. Those intending to purchase bonds of the Fund may apply to brokers who have a license for brokering activities.
Recall, in December last year the State Securities Committee registered the ninth issue of covered bonds of the Azerbaijani Mortgage Fund in the amount of 50 million manats, with the nominal value of each of them in 1,000 AZN and with yields of 3% per year. Securities in the amount of 26 million AZN have been redeemed so far.
In March 2006 AMF began to issue mortgage loans. According to this, from the beginning of the AMF activity, more than 706.4 million AZN has been issued, of which the largest volume (97.1 million in 2014 and 112.9 million in 2013) came in the last two years.
Today, 30 local banks of the 43 cooperate with the AMF as authorized partners. In addition, 21 (out of 27) insurance companies are involved in the mortgage market by providing insurance services. --17D-
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review