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

The Mortgage and Credit Guarantee Fund of Azerbaijan has made regular interest payments on bonds, Trend reports citing the Baku Stock Exchange.

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 made another interest payment on the AZ2024008685, AZ2025008684, and AZ2026008683 bonds. Proceeding from this, the face value of the mentioned bonds was 583.24 manat ($343). 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.

Source: Trend News Agency

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