Azerbaiajni bank provides leasing company with underwriting and market maker services
Azerbaijan, Baku, June 6 / Trend N. Ismayilova /
Azerbaijani PashaBank provided Unileasing with underwriting and market maker services in placing its bonds, which took place on May 31, 2011, the bank said. The bonds were placed at 10 percent for a period of 1.5 years to the amount of 5 million manat.
PashaBank acted at the Baku Stock Exchange as an underwriter of placing the emission by UniCapital capital.
PashaBank is also a market maker of this issue. It will determine the daily price for the purchase/ sale of bonds, providing more liquidity in the secondary bond market.
The bond prices will depend on demand from investors, the financial condition of the issuers and the macroeconomic indices of the market.
PashaBank was established in June 2007. It operates under the license of the Central Bank of Azerbaijan on January 28, 2007. The authorized capital amounts to 123.475 million manat.
The official exchange rate is 0.7891 maant to $1.