Azerbaijan's Mortgage, Credit Guarantee Fund pays interest on bonds

The Mortgage and Credit Guarantee Fund of Azerbaijan has carried out regular interest payments on bonds.

According to the fund’s bond prospectus, a certain part of the residual value of securities is envisioned to be paid along with interest payments on the bond payment date, which is equal to the principal debt payments on the assets included in the mortgage coverage.

The BSE noted that the issuer has made another interest payment on the bonds AZ2065008685, AZ2066008684, AZ2067008683. As a result, the face value the remaining bonds amounted to 964.67 manat ($567.45). Thus, interest income in the amount of three percent will be calculated on the basis of this amount for regular payments.

The Mortgage and Credit Guarantee Fund was established following the Presidential Decree in 2017 through the reorganization and merger of Azerbaijan Mortgage Fund OJSC and Azerbaijan Credit Guarantee Fund OJSC.