OREANDA-NEWS. August 18, 2009. The Azerbaijani commercial banks expect expansion of financing by Azerbaijan Mortgage Fund (AMF) to increase mortgage loaning.

One of native bankers says that in accordance with report of AMF,the fund will allocate additional funds to develop mortgage operations in the country.

“AMF will continue emission of bonds and it was also discussed the fund could attract up to \$400 million of additional resources,” he said.

According to him, bonds of AMF are in great demand  at present and the banks are main buyers.

“It is connected with the fact that rates at state short-term bonds are enough low now and from the point of view of management of bank’s liquidity it is enough good tool,” banker said.

Let’s remind that emission of interest-bearing uncertificated registered secured bonds of AMF was registered on 29 May 2009. The total volume of emission is 55 million, face value of each bond is AZN 1,000 and the interest rate is 3%. The maturity date is 10 May 2016.

For the time being, AZN 25 million was placed through three tranches in the market.

The package of AMF in the amount of AZN 55 million is expected to place already till the end of current year.