Akkord Corporation’s 18 million manat worth corporate bonds of second issue placed

Photo: Akkord Corporation’s 18 million manat worth corporate bonds of second issue placed  
 / Business News

Baku, Azerbaijan, Dec. 6

Trend:

As of today, Akkord Corporation's 18 million manat worth corporate bonds has been purchased by AtaBank OJSC (15 million manat) and "The International Bank of Azerbaijan" OJSC" (3 million manat). These securities are the part of the Akkord Corporation's 50 million manat worth corporate bonds of the second issue.

It should be mentioned that Akkord Corporation has issued corporate bonds for the second time on November 4, 2013. State registration of the new bond issue was carried out by the State Committee of Securities. The nominal value of an issued bond is 1000 (one thousand) manat, the total nominal value of all bonds is 50,000,000 (fifty million) manat. Totally 50,000 (fifty thousand) bonds have been issued with a maturity of 3 years and a coupon rate (yield on bonds) of 11.75% per annum. The bonds are placed on the Baku Stock Exchange by way of public offering. "The International Bank of Azerbaijan" OJSC is acting as a market-maker to facilitate sale of the bonds issued by Akkord Corporation.

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