Azerbaijan Mortgage Fund to start placing of 5th tranche of 5th issue of its bonds on 21 May
Baku, Fineko/abc.az. From 21 May 2012 the Azerbaijan Mortgage Fund under the Central Bank will start placing of the fifth tranche of the fifth issue of book-entry, secured, registered bonds.
The Baku Stock Exchange reports that on 21 May the 5th tranche of the 5th issue of the Funds bonds for AZN 3 million will be placed at the BSE. The price of bonds sales for starting data of placement will make 100.5583% of nominal which is AZN 1,000. Under the prospectus issue, the placement will be made by open subscription method. The ones wishing to acquire bonds can apply to BSE member-brokers.
Placement of the issue started on 15 March when the 1st tranche for AZN 2 million was placed and continued on 2 April (the 2nd tranche for AZN 3 million) , on 24 April (AZN 3 million) and 10 May ( AZN 3 million).
The prospectus of the 5th issue of AMF bonds was registered by the State Securities Committee on 16 January under number AZ200500868. The total volume of the AMF bonds issue is AZN 30 million with interest rate of 3% per annum. The circulation period of these bonds is 3,600 days with payments on them every 180 days (20 payments). The redemption is scheduled for 22 January 2022. They will be secured by mortgage papers for AZN 36,022,278.44.
Earlier the AMF successfully placed 4 issues of bonds for totally AZN 210 million (AZN 55 million, AZN 75 million, AZN 60 million and AZN 20 million respectively).
In 2005-11 the Fund received AZN 113.89 million from the State Budget of Azerbaijan and formed capital reserves for AZN 4,064,277.18.
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