Demand for mortgage bonds in Azerbaijan exceeds offer by almost 17 times

The Azerbaijan Mortgage Fund (AMF) said on Tuesday that an auction of interest-bearing registered secured bonds of AMF in amount of 3,000,000 manat was held at the Baku Stock Exchange (BSE) on March 29, 2011.

The volume of a submitted bid by 5 participators was 50.735 million manat at face value. The maturity date of the bonds is December 11, 2017. If demands exceed the offer all applications will be ensured in proportional order. The Central Bank of Azerbaijan is the initial organizer of the placement of bonds.

AMF bond issue prospectus was registered by the State Securities Committee on November 19, 2010. The emission of the interest-bearing secured registered bonds worth $ 60 million manat with nominal value 1,000 manat each was placed. The yield on the bonds is 3 percent. Placing began on Jan.17. Until now, the AMF has placed two emissions - secured mortgage bonds worth 55 million manat and unsecured bonds worth 75 million manat.


/Trend/