Sixth issue of the AMF bonds almost extinguished

Baku Stock Exchange has registered no interest documentary covered bonds of the Azerbaijan Mortgage Fund (AMF) in the amount of 5 million manat; state registration number AZ2006008687. Accommodation held by the auction, which was attended by two of the investor.

According to the official site of the fund (http://www.amf.cbar.az/?/az/news/view/348), it is the eighth part of the 6th prospectus, registered in the State Committee for Securities (SCS) December 21, last year. The total issue of the volume is 40 million manat. Only 40 thousand bonds with par value of 1 thousand manats. The bonds within the said issue are for 10 years, and the maturity date is November 6, 2022. The bonds are issued at the rate of 3% per annum.

As part of this issue and as the results of seven auctions, there were placed bonds worth 34 million manat. At the end of the previous five issues in 2009-2012 Fund placed bonds worth 240 million manat.

AMF was established in December 2005 and in March 2006 began to issue mortgage loans. Disadvantageous to the commercial banks issuing mortgages social (maximum 50 thousand manat at a rate not exceeding 4% per annum) began in 2007, after six months was suspended.

June 1, 2009 renewed the process of mortgage loans, but in commercial terms (maximum 50 AZN for a period of 3 to 25 years at a rate of not more than 8% per annum) over 27 agent banks.

Last year, the volume of mortgage lending of funds AIF was 74.77 million manat. - 17D-