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Azerbaijan to register the first issue of mortgage bonds in June

27 May 2009 15:52 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. Azerbaijanâ€™s State Committee for Securities will register the first issue of mortgage bonds in early June, said Rufat Aslynly, chairman of the Committee.

According to him, documentation between Azerbaijan Mortgage Fund and the National Depository Center was signed on May 26.

â€œThe issue prospectus will be submitted to us. Paperwork and the approval of issue prospectus will be complete by the end of May,â€ he added.

The value of this new instrument will be based on market demand and supply.

In general, the bonds will refinance the mortgage and its sustainability.

Mortgage bonds, which will be presented to the securities market, will take a catalytic role.