Azerbaijan Mortgage Fund Placed 30% of 4th Bonds Issue
OREANDA-NEWS. October 18, 2011. Today at the Baku Stock Exchange the Azerbaijan Mortgage Fund under the Central Bank has placed the second tranche of interest-bearing, book-entry, secured, registered bonds of the fourth issue. The demand exceeded the supply by 13.13%.
The AMF reports that on 18 October the three investors submitted the orders for AZN 3.394 million (announced volume: AZN 3 million). As a result, all the volume of the tranche of the Fund’s bonds set for sale was placed fully. Selling price of the bonds was 100.1167% of par value making AZN 1,000.
The placement of the issue started on 4 October when first tranche for AZN 3 million was sold. As a result total placement (AZN 6 million) already makes 30% of the announced issue volume.
The maturity date of this issue is 28 August 2018. The AMF issue prospectus was registered by the State Committee for Securities on 26 August 2011. The total amount of the issue is AZN 20 million with an interest rate of 3% per annum.
From 17 January to 22 September 2011 the AMF placed fully the third issue of its bonds, the prospectus of which was registered by the SCS on 19 November 2010. The total amount of the third issue was AZN 60 million with an interest rate of 3% per annum.
The 1st tranche for AZN 10 million was placed on 17 January 2011 and the 2nd one for AZN 3 million on 31 January. The AMF raised AZN 13 million on par value from two January tranches, AZN 3 million from the February tranche, AZN 3 million from the March tranche, AZN 3 million from April tranche, AZN 16 million from four May tranches, AZN 3 million form the June tranche, AZN 3 million from the July’s first tranche, AZN 7 million from August’s tranche, and AZN 13 million from September’s three tranches.
The maturity date of bonds redemption is 11 December 2017.
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