Demand lightly surpasses supply in mortgage field in Azerbaijan

The Azerbaijan Mortgage Fund (AMF) under the Central Bank, placed 10 million manat of the sixth issue of interest-bearing secured registered bonds, the Baku Stock Exchange said on Monday.

The bonds worth 10 million manat, were put up for auction, but demand exceeded supply by 3.71 percent.

The bids were submitted by two investors to the amount of 10.37 million manat. The bids were presented at a price of 101.1 percent of face value. The maturity date is November 6, 2022.

AMF registered the issue of secured bonds to the amount of 40 million with a par value of 1,000 manat in the State Securities Committee on December 21. The bonds worth 29 million manat given the recent placement have been placed from this issue.

The maturity period is 10 years with an annual interest rate of 3 percent. (Trend)