Azerbaijan Mortgage Fund to start placing of fifth issue of its bonds on 15 March
Baku, Fineko/abc.az. From 15 March Azerbaijan Mortgage Fund will start placing of first tranche of book-entry, secured, registered bonds of fifth issue under the Central Bank.
The Baku Stock Exchange reports that on this day the 1st tranche of the 5th issue of the Funds bonds for AZN 2 million will be placed at the BSE. The price of bonds sales for starting data of placement will make 100% 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.
Sales of the fifth issue of AMF bonds was registered by State Securities Committee on 16 January under AZ200500868 number, the AMF can issue bonds with circulation period of 3.600 days with payments by each 180 days (20 payments). Through this issue AMF can draw up to AZN 30 million (issuing 30.000 bonds with AZN 1.000 par value). Interest rate on bonds is 3% per annum. Redemption period is 22 January 2022.
They will be secured by mortgage papers for AZN 36. 022. 278.44.
Earlier AMF successfully placed 4 issues of bonds for total sum of AZN 210 million ( AZN 55 million, 75 million, 60 million and 20 million respectively). In 2005-11 the Fund got AZN 113.891 million from state budget of Azerbaijan and formed capital reserves for AZN 4.064.277.
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