Azerbaijan starts placement of fourth issue of mortgage bonds

An auction on placement of the first part of the fourth issue of interest-bearing book-entry registered secured bonds of Azerbaijan Mortgage Fund (AMF) in the amount of 3 million manat will be held at the Baku Stock Exchange (BSE) under the Central bank of Azerbaijan (CBA) on Oct.4, BSE said on Friday.

According to the prospectus the offering will be held through public offering at Baku Stock Exchange CJSC. The bonds will be offered at nominal price. The maturity date is Aug. 28, 2018. In case the orders exceed offering, all of the orders will be filled proportionally. Central Bank of Azerbaijan Republic is the initial organizer of bonds' placement.

The State Securities Committee of Azerbaijan registered the fourth issue of interest-bearing secured bonds of AMF in the amount of 20 million manat in September.

Within the issue 20,000 bonds with par value of 1,000 manat each were issued. Life of bonds is 2,520 days. The issue will be carried out through public offering. The official exchange rate is 0.7869 manat to $1 on Sept.30.


/Trend/