BAKU, Azerbaijan, May 17. Kapital Bank is considering the possibility of placing manat bonds soon, chairman of the board and chief executive officer of Kapital Bank Farid Huseynov said during the press conference, Trend reports.
"Kapital Bank aims to actively participate in the Azerbaijani capital market." There is work in this direction, and I can already announce our manat bonds,” he said.
According to him, Kapital Bank had previously issued bonds worth $35 million at 7 percent.
“This is the highest yield ever offered on dollar bonds. The bonds have a face value of $100, an interest payment period every 90 days, and a term of 7 years. The placement has already been completed.
However, I would like to emphasize the fact that the volume of orders placed by individuals reached a record 81.8 percent compared to the previous two years. This is a successful result in the direction of attracting individuals to the financial market,” Huseynov noted.
Farid Huseynov emphasized that Kapital Bank has issued similar bonds before.
“It's just that this is the first public placement of the bank's subordinated bonds. Fast-growing banks are increasingly turning to subordinated bonds to support further asset growth, to maintain the leverage ratio, and in general to achieve long-term strategic goals,” he added.