BAKU, Azerbaijan, June 28. On June 28, 2024, the Baku Stock Exchange (BSE) hosted an "Opening Bell" ceremony to commemorate the introduction of manat-denominated bonds by AccessBank LLC into the capital market.
AccessBank thereby introduced new financial instruments denominated in the local currency, with the bond issuance amounting to 5,000,000 manats, commencing with the ringing of the opening bell.
Each bond issued has a nominal value of 1,000 manats, carries an annual interest rate of 10%, and features a repayment schedule every 90 days over an 18-month term. The placement of these non-documentary named interest-bearing unsecured bonds was facilitated by the investment company ABB-Invest.
"In line with our strategic goals, we will allocate the funds obtained from the issuance to increase financial accessibility and expand business lending in the regions of Azerbaijan," - said Orkhan Ismayilov, Deputy Chairman of the Management Board and Chief Financial Officer of AccessBank.
To conclude the event, representatives from AccessBank, the Baku Stock Exchange, and investment company IBB-Invest rang the bell, signifying the bonds' debut on the primary market and initiating trading on the Baku Stock Exchange floor.
AccessBank, a pioneer in the microfinancing market, has been providing services to small and medium-sized enterprises since 2002. The Bank's shareholders include the Asian Development Bank, the European Investment Bank, the International Finance Corporation, and other international organizations and investment funds. With 35 branch offices, including 14 in Baku and 21 in regions, AccessBank continues to offer accessible financing options for MSMEs. For more detailed information on the branh offices, please follow: http://bit.ly/accessbank-filiallar
For more information on the services provided by AccessBank, call 151 or visit the website at www.accessbank.az. You can also follow the bank's social media accounts on Facebook, Instagram, LinkedIn.
*AccessBank CJSC operates under license No. 245 dated 25 October 2002, issued by the Central Bank of the Republic of Azerbaijan. The bank's Head Office is located at 3 Tbilisi avenue, Yasamal district, Baku city.