Demand for mortgage bonds twice exceeds supply in Azerbaijan

Demand for bonds of the Azerbaijan Mortgage Fund (AMF) under the Central Bank at the last auction held on Monday exceeded supply by more than 2.1 times, the AMF said in its statement.

The Baku Stock Exchange held placement of another part of issue of interest-bearing book-entry registered secured bonds of AMF worth 5 million manat.

The volume of submitted bids by 4 participators was 10.86 million manat at face value. The offering was fully placed. The maturity date is Dec. 11, 2017. The Central Bank of Azerbaijan is the initial organizer of bonds’ placement. AMF bond issue prospectus was registered by the State Securities Committee on Nov.19, 2010.

The placement is carried out from the third issue of registered book-entry bonds registered in the amount of 60 million manat with an interest rate of three percent per annum and a nominal value of 1,000 manat each. The placement of this issue started from Jan.17 and bonds worth 52 million have been sold so far. Until now, the AMF has placed two emissions - secured mortgage bonds worth 55 million manat and unsecured bonds worth 75 million manat.


/Trend/