The leading microfinance organization in the country, FINCA Azerbaijan, launched a third placement of interest-bearing, unsecured, non-documentary registered bonds in the amount of 3 million AZN at the Baku Stock Exchange (BSE) on June 28, 2022. This listing is the third in a row for this well-known non-banking credit organization, which successfully raised 6 million AZN from local investors in the previous BSE listings over the last six months.
"Having operated in Azerbaijan for over 20 years, we noticed that there is sufficient demand for bonds in the market, so we decided to continue accessing the local bond market not only to fund our growth but also help our clients to grow their business, " underlined Timothy Tarrant, FINCA Azerbaijan CEO.
FINCA Azerbaijan plans to continue to improve the efficiency of its operations in 2022 to increase its regional branches from 22 to 28 by the end of this year.
The underwriter for the placement is AzFinance Investment Company CJSC. Those interested in participating in the bond purchase can apply to investment companies that are BSE members.
About FINCA Azerbaijan
FINCA Azerbaijan is a leader in responsible finance, serving small businesses across the country with loan products to promote profitable business activity. Launched in 1998, FINCA Azerbaijan is part of FINCA Impact Finance’s global network of 18 banks and microfinance institutions, reaching more than 2.8 million clients in five continents.
For more information about FINCA Azerbaijan activities please visit https://finca.az/ or official social media accounts.