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Azerbaijan mortgage bond issues floated completely

16 January 2010 09:06 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Baku Stock Exchange (BSE) finalized floating of bond issues of Azerbaijan Mortgage Fund (AMF).

AMF told APA-Economics that AZN 3 million bond issues were auctioned by orders of four investors. Total nominal cost of orders was AZN 8.1 million. The bond issue commitments will be fulfilled by obligor on May 10, 2010.

Bond flotation orders double exceeded auction volume and reached AZN 102 million, which shows rate of interest of potential investors to secured bond issues. First flotation was successfully implemented and flotation of mortgage bond issues was experienced first by Azerbaijan in the region.

State Securities Committee registered flotation prospects for AMF bond issues on May 29, 2009. Total volume of flotation was AZN 55 million, nominal cost of one bond issue was AZN 1 000 and profitability was 3%.

State Securities Committee registered new flotation prospects for AMF bond issues at AZN 75 million on December 30, 2009 and it will be floated according to mortgage market requirements.