Mortgage & Credit Guarantee Fund to hold auction for AZN 20 million


November 22, Fineko/abc.az. An auction for the placement of mortgage bonds of the Mortgage & Credit Guarantee Fund will be organized at the Baku Stock Exchange on 28 November.

ABC.AZ reports that the collection of bids during the auction will be organized from 11 am till 12:30 pm in accord with the BSE trading regulations. The issue volume of the securities with ISIN-code AZ2041008684 is AZN 20 million, face value - AZN 1,000, the auction price AZN 1010.7499, maturity date of the bonds is 23 years, interest rate 3%, and term payments interest income - 6 months (180 days).

The placement underwriter is BTB-Kapital Business. In case the submitted bids exceed the supply, the orders will be secured in a pro rata procedure.

By Elmir Murad