AZN 1 bn raised for securities placement over 10 years


January 16, Fineko/abc.az. Over the past year The Mortgage & Credit Guarantee Fund placed mortgage bonds for AZN 150 million at interest rate of 3% per annum.

ABC.AZ informs with reference to MCGF’s report that as a whole, starting from May 2009, the Fund-raised financial resources through placement of securities on the domestic capital market amounted to AZN 1.005 bn.

Those finances were directed for ordinary mortgage loans (up to 25 years, 8% per annum). Of the funds raised, the obligations on the bonds in the amount of AZN 281.1 million were fulfilled fully. Currently, the volume of Fund's current bonds total AZN 723.9 million, which is an important part of the domestic securities market.

By Elmir Murad