Azerbaijani Pasha Bank makes first market-making deal with non-financial organization

Photo: Azerbaijani Pasha Bank makes first market-making deal with non-financial organization
 / Economy news

Baku, Azerbaijan, Aug. 26

By Zulfiyya Gurbanova - Trend:

Pasha Bank is starting market-making of the unsecured interest-bearing book-entry bonds of Embawood LLC at Baku Stock Exchange (BSE) as of Aug. 26, according to a message from the BSE.

The market-making will be carried out through Pasha Capital LLC, a member of the BSE.

The volume of the market-maker's buy liabilities on the bonds is 200,000 AZN, and the price spread between the buy and sell prices is 5 percent.

Currently, the liquidity of 12 bond issues (including the above mentioned one) traded at the BSE are provided by the market maker quotations.

Embawood LLC launched the bond placement on Aug. 22.

Some 10,000 bonds at par value of 1,000 AZN each were issued as part of the emission. Bond yield will stand at 11 percent per year with the circulation period of one year starting from the date of placement of the first bonds of this issue.

Payment of interests on the bonds will be made every three months.

The deal's underwriter is the Pasha Capital LLC.

On the first day of trading, the stock exchange turnover of the company's bonds amounted to 16.5 million AZN.

The official exchange rate for Aug. 26 is 0.7844 AZN/USD.

Edited by CN

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