Azerbaijan puts on sale 10-year mortgage bonds

New instrument of long term investing appeared at Azerbaijani market- 10 year mortgage bonds to be issued by Azerbaijan Mortgage Fund under the Central bank.

Baku Stock Exchange reports that within the issue of secured bonds registered by State Securities Committee on 16 January under AZ200500868 number, the AMF can issue bonds with circulation period of 3.600 days with payments by each 180 days (20 payments). Through this issue AMF can draw up to AZN 30 million (issuing 30.000 bonds with AZN 1.000 par value). Interest rate on bonds is 3% per annum.

Placement of bonds should start not later than 60 days from the moment of registration- 18 March. They will be secured by mortgage papers for AZN 36. 022. 278.44.

Earlier AMF successfully placed 4 issues of bonds for total sum of AZN 210 million ( AZN 55 million, 75 million, 60 million and 20 million respectively). In 2005-11 the Fund got AZN 113.891 million from state budget of Azerbaijan and formed capital reserves for AZN 4.064.277


/abc.az/