Ninth emission of secured mortgage bonds registered in Azerbaijan
Baku, Azerbaijan, Jan.3
By Maksim Tsurkov - Trend:
The State Committee for Securities of Azerbaijan Republic (SCS) registered an emission of interest-bearing, book-entry, secured, registered bonds of the Azerbaijan Mortgage Fund (AMF) under the Central Bank of Azerbaijan, in the amount of 50 million AZN, said the message of the SCS, published on its website.
The official exchange rate for January 2 is 0, 7844 AZN/USD.
This will be the ninth emission of mortgage bonds in the country, according to the SCS. It is reported that some 50,000 bonds with par value of 1,000 AZN each have been issued within the framework of the emission. The issue will be implemented through a public offering, said the SCS.
It is reported that the last (eighth) prospectus of the AMF bonds, totaling 40 million AZN, was registered by the SCS January 28, 2014.
The proceeds from the mortgage bonds placement are directed to finance conventional mortgage. Some 50 million AZN from the state budget will also be allocated for the social mortgage in 2015.
AMF was established December 2005 and began to issue mortgage loans in March 2006. In total, since the beginning of funding, AMF granted mortgage loans worth 620.24 million AZN, including 87.15 million AZN in 2014, 112.9 million AZN in 2013, 74.77 million AZN in 2012, 95.64 million AZN in 2011, 97.08 million AZN in 2010, 76.9 million AZN in 2009, 70.2 million AZN in 2007, 5.6 million AZN in 2006.
At present, the authorized banks of the Azerbaijan Mortgage Fund are 28 banks [some 44 banks operate in the country].
Some 21 insurance companies [27 in total] and 14 appraisal organizations are the participants of the mortgage market.
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