Azerbaijan's mortgage fund puts up new bond tranche for auction

By Trend

Another auction on placement of bonds of the Azerbaijan Mortgage and Credit Guarantee Fund was over at the Baku Stock Exchange (BSE) on Dec.1, Trend reports with reference to the BSE.

According to the BSE, the volume of the issue amounted to 50 million manat ($29.4 million) with a circulation period of 7,920 days.

The total amount of bids for the bonds at nominal prices also made up 50 million manat. The maturity date of the bonds is August 8, 2042.

In 2020, the total issue amount of the fund’s bonds was 250 million manat ($147.06).

As the fund’s Deputy Board Chairman Rahman Hummatov earlier said, the last placement of bonds worth 50 million manat ($29.4 million) also gives reason to believe that the fund's assets at the end of 2020 will reach 1.85 billion manat ($1.08 billion).

(1 USD = 1.7 AZN on Dec.1)