Azerbaijani leasing company starts placement of bonds

Photo: Azerbaijani leasing company starts placement of bonds

 / Economy news

Baku, Azerbaijan, May 20

By Zulfiya Gurbanova - Trend:

Azerbaijani State Committee for Securities registered the issue prospectus of interest-bearing book-entry registered unsecured bonds of Finance Leasing OJSC.

The issue volume is 400,000 Azerbaijani manats, according to a message from the Baku Stock Exchange (BSE).

The placement will be held by means of initial public offering at the Baku Stock Exchange (BSE), according to the issue prospectus.

Some 800 bonds at par value of 500 manats each were issued as part of the emission.

The turnover period of the bonds is 720 days at the annual rate of 13 percent and coupon payment period of every 90 days.

The placement underwriter is Technika Capital Management LLC.

Finance Leasing OJSC passed the state registration on April 2, 2007.

Currently, its shareholders include 16 individuals, while the main parts of the shares are owned by Azad Javadov and Tokay Shahalizade (15.83 percent each) Mobil Sharifov (15.17 percent) and Ibrahim Ibrahimov (10 percent).

The official exchange rate on May 20 is 0.7844 AZN/USD.

Edited by C.N.

Follow us on Twitter @TRENDNewsAgency