Azerbaijan Mortgage Fund to complete placement of 3rd bond tranche on 22 September
Baku, Fineko/abc.az. Placement of September’s 3rd tranche of interest-bearing, book-entry, secured, registered bonds of the Azerbaijan Mortgage Fund (AMF) under the Central Bank will begin since 22 September 2011.
The Baku Stock Exchange reports that this year’s 15th tranche of the third issue of the AMF bonds for AZN 3 million will be placed at the BSE on this day. Selling price of the bonds by the date of the placement start will be 100.5667% of face value making AZN 1,000. According to the issue prospectus, placement will be conducted by public subscription method.
Those wishing to buy bonds can apply to BSE member brokers.
In case demand exceeds supply, all orders will be met proportionally. The Central Bank of Azerbaijan will be the initial organizer of the bonds placement.
Placement of this issue bonds started on 17 January 2011. Up to date the issue has been already placed for AZN 57 million. On 2 May AMF placed 1st tranche of May bonds for AZN 3 million, 12 May 2nd tranche for AZN 3 million, on 26 May 3rd tranche for AZN 5 million, on 31 May 4th tranche for AZN 5 million, on 2 June a tranche for AZN 3 million, on 5 July a tranche for AZN 3 million, on 1 August a tranche for AZN 3 million, on 15 September –first September tranche for AZN 5 million and on 19 September- second September tranche for AZN 5 million.
The maturity date of bonds redemption is 11 December 2017. The AMF bond issue prospectus was registered by the State Committee for Securities on 19 November 2010. The total issue volume is AZN 60 million with interest rate of 3% per annum.
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