The leading microfinance organization in the country, FINCA Azerbaijan, launched a fourth placement of interest-bearing, unsecured, non-documentary registered bonds in the amount of 3 million AZN at the Baku Stock Exchange (BSE) on March 16, 2023. The total placement was consisted of 30,000 bonds with 12.5% coupon rate and value of 100 AZN each for 2 years with quarterly payment frequency of the coupon rate.
Over the last two years FINCA successfully raised 12 million AZN from local investors in four issuances.
“Azerbaijan is a great market for us, and we have been here for the last 25 years and are looking forward to growing our business in the coming years. We expect to access the local bond market to fund our growth over the next years, as we have ambitious plans to increase our network to serve more people in the rural areas with our microfinance products.
The importance of the agricultural sector in the local economy and in the growth of the non-oil sector is being emphasized, and there is a big focus on supporting rural entrepreneurs. These bonds help to do that, help us to grow, eventually help our clients’ growth, and together, this creates good results not only for us but also for our clients and for the general market. It also contributes to increasing access to finance for low-income groups of the population, especially in rural areas, to improve their businesses." highlighted Timothy Tarrant, FINCA Azerbaijan CEO.
The underwriters for the placement are AzFinance Investment Company CJSC and UniCapital Investment Company. Those investors, interested to invest in bond instruments can apply to these investment companies.
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 16 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.