OREANDA-NEWS. January 27, 2010. The Committee says that last year the market of corporate debt instruments of Azerbaijan continued dynamical development at the expense of market access of mortgage bonds and their active expansion.

“It was the first issue of secured bonds in the country and growth of issue of such instruments is expected soon. Besides, resumption of mortgage loan activity will create conditions for stimulation of domestic construction sector,” the SSC informed.

For the purpose of ensuring endurance of mortgage lending mechanism and switching to scheme of self-financing starting from June 2009 it was launched placement of interest-bearing bonds of the Azerbaijan Mortgage Fund at the Baku Stock Exchange.

The AMF’s bonds are divided into two types – 7-year bonds with profitability of 3% and 10-year with profitability of 3.25%. Overall volume of the Fund’s bond issue is AZN 130 million and by the end of 2009 the AMF bonds were placed by nine tranches of AZN 49 million. The major part of securities was acquired by banks with excess liquidity,” the Committee said.