BAKU, Azerbaijan, March 15. The Baku Stock Exchange (BSE) will host an auction to place bonds of the FINCA Azerbaijan non-banking credit organization (NBCO) LLC, Trend reports citing the BSE.
A total of 30,000 bonds with a par value of 100 manat ($58.82) each with a circulation period of 24 months and a yield of 12.5 percent will be put up for auction.
The placement underwriter is AzFinance Investment Company OJSC.
Bonds of FINCA Azerbaijan NBCO with a total value of three million manat ($1.76 million) were listed in the standard market segment on September 30, 2022, by the decision of the BSE Listing Committee.
According to the Central Bank of Azerbaijan, as many as 55 NBCOs are currently operating in the country.
The non-bank credit organization is a specialized credit organization that provides loans and other activities based on a special agreement (license) envisaged by the Law on the non-bank credit organizations".