OREANDA-NEWS. January 05, 2010. The Azerbaijan State Securities Committee (SSC) has registered an issue of bonds of the Azerbaijan Mortgage Fund.

The SSC reports that totally 75,000 registered book-entry unsecured bonds were registered with par value of AZN 1,000. The issue volume is AZN 75 million.

In 2009 the Committee conducted for the first time registration of AMF interest-bearing book-entry secured registered bonds for AZN 55 million (29 May 2009). Placement of AMF bonds was started on 16 June 2009. Up to date bonds for AZN 49 million have been set out for auction and entire volume of bonds was placed fully.

The bonds redemption date is 10 May 2016 года. Par value of bonds is AZN 1,000 and profitability is 3%.

The AMF was established in December 2005 and started extending mortgages in March 2006. In June 2007 the Fund halted disbursal of mortgage loans in connection with shortage of financing and resumed crediting in June 2009.

For six months from the day of resumption of mortgage loan activity in the country by the Fund agents, 1,600 families have become owner of housing. From 1 June to 1 December 2009 the AMF agents granted 1,600 mortgages for AZN 67 million. And from the very beginning of mortgage crediting on the AMF standards (March 2006) in Azerbaijan 3,600 families have been able to improve their housing conditions due to mortgages. Overall cost of mortgages totaled AZN 143 million.