BAKU, Azerbaijan, April 14. An auction on the placement of unsecured non-documentary bonds of the 'International' non-bank credit organization (NBCO) for a total of two million manat ($1.17 million) with a three-year circulation period was held on April 14, 2022 at the Baku Stock Exchange (BSE), Trend reports citing the BSE.
According to the BSE, seven investors submitted seven bids during the auction. The annual interest rate on the bonds is 14 percent, and interest payments are being paid to investors every three calendar months.
The auction price made up 1,000 manat ($588.57), while the face value of orders totaled two million manat ($1.17 million). The amount of bond issues at a nominal price reached two million manat ($1.17 million).
The maturity date of the bonds is October 6, 2023.
The placement underwriter is AzFinance Investment Company CJSC.