IT-company's bonds placement starts in Azerbaijan

Business Materials 14 July 2009 17:43 (UTC +04:00)

Azerbaijan, Baku, July 14 / Trend /

Starting from July 15 of 2009 placement of interest-bearing book-entry registered bonds of "AZEL" CJSC will be started, the Baku Stock Exchange (BSE) reported on July 14.

The volume of the issue is USD 3,000,000, the face value per bond $100, annual interest rate on bonds 14%, and the turnover period 730 days.

According to the issue prospectus, placement will be held by means of initial public offering at Baku Stock Exchange. "Yapi Kredi İnvest" LLC will be the underwriter of bonds placement. Those intending to purchase bonds can apply to an organization being the member of "Baku Stock Exchange" CJSC and having a brokerage license.

On July 14, the official exchange rate is 0.8043 manat to $1.

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