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Wednesday, August 23, 2017

Azerbaijan Mortgage Fund to begin next sale of bonds

The Azerbaijan Mortgage Fund, a part of the Central Bank of Azerbaijan, will begin setting out its third tranche of the eighth issue of the fund's bonds on Thursday.

The fund's interest-bearing, book-entry, secured and registered bonds will be set out at the Baku Stock Exchange for $6.35 million. The placement will be carried out by the open subscription method, in accordance with the issue prospectus, ABC.az reports.

Applications for bonds acquisition can be made through BSE member brokers.

Azerbaijan's State Securities Committee registered the eighth issue prospectus of AMF bonds with the registration number AZ2008008685 on January 22. The AMF will issue 40,000 bonds with par value of approximately $1,269 each, in accordance with the prospectus.

The issue will raise $50.8 million from the market and will have a circulation period of 3,600 days with a three percent per annum interest rate.

Seven bond issues totaling $381 million have successful been placed by the AMF. The seventh issue bonds placement ended on Dec. 29, ABC.az reports.