Azerbaijani bank starts placement of bonds with annual rate of 15%

Photo: Azerbaijani bank starts placement of bonds with annual rate of 15%
 / Business News

Baku, Azerbaijan, April 24

Trend:

The placement of OJSC Parabank's interest-bearing book-entry registered unsecured bonds will start at Baku Stock Exchange (BSE) on April 28, the BSE said on Thursday, April 24.

The issue volume is 13,000,000 Azerbaijani manats.

Some 13,000 bonds at par value of 1,000 manats each have been issued as part of the emission.

Annual rate of bonds is 15 percent with a turnover period of seven years.

Coupon payment will be carried out quarterly (every 90 days).

The placement underwriter is Unicapital OJSC.

Parabank was established on December 3, 1991. Slightly over 80 percent of its shares are owned by five individuals, while the remaining part belongs to 14 minority shareholders.

The official exchange rate on April 24 is 0.7843 AZN/USD.

Translated by E.A.

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Tags: Parabank