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AMF places another AZN 5 mln-bonds

11 December 2012 07:08 (UTC +04:00)

Baku. Nijat Mustafayev – APA-Economics. Today the Azerbaijan Mortgage Fund under the Central Bank continued successfully placing the fifth issue of book-entry, secured, registered bonds – demand for their next tranche exceeded the supply 6.75 fold. The placement was conducted for the first time since 21 June.

The Baku Stock Exchange reports that on 10 December the three investors submitted bids for the amount of AZN 33.77 million for purchase of the next tranche of the fifth bonds issue equal to AZN 5 million.

The selling price of bonds totaled 100.75% of nominal which is AZN 1,000. As a result, the tranche was placed fully.

Placement of the 5th issue started on 15 March, when the 1st tranche for AZN 2 million was placed, and continued on 2 April (the 2nd tranche for AZN 3 million) on 24 April (the 3rd tranche for AZN 3 million), on 10 May (AZN 3 million), on 21 May ( AZN 3 million), 4 June (AZN 3 million), and 21 June (AZN 3 million).

As a result, overall placement of the fifth issue of mortgage bonds still makes up AZN 25 million or 83.3%.

The prospectus of the 5th issue of AMF bonds was registered by the State Securities Committee on 16 January under number AZ200500868. The total volume of the AMF bonds issue is AZN 30 million with interest rate of 3% per annum. The circulation period of these bonds is 3,600 days with payments on them every 180 days (20 payments). The redemption is scheduled for 22 January 2022. They will be secured by mortgage papers for AZN 36,022,278.44.

Earlier the AMF successfully placed 4 issues of bonds for totally AZN 210 million (AZN 55 million, AZN 75 million, AZN 60 million and AZN 20 million respectively). In 2005-11 the Fund got AZN 113.891 million from state budget and formed capital reserves for AZN 4.064.277.