Azerbaijani leasing company's bonds included in BSE's non-quotation list

Business Materials 28 June 2011 17:52 (UTC +04:00)

Azerbaijan, Baku, June 28, Trend /

CJSC "Unileasing" applied to Baku Stock Exchange (BSE) to include its interest-bearing book-entry registered unsecured bonds to the BSE's non-quotation list. The start of the CJSC "Unileasing"s bonds placement is planned to be held beginning from June 29, the Baku Stock Exchange said.
Unileasing has already registered its second issue prospectus of interest-bearing book-entry registered bonds in June in the State Securities Committee in order to increase the volume of leasing operations by the similar amount.
Par value of each bond is 1,000 manat, while annual rate of bonds - 9.5 percent. Turnover period is 360 days. The funds attracted within the issue, will be directed to increasing funding for small and medium businesses.
Within the first June placement for the first time PashaBank acted as underwriter of placement of the leasing company's issue of bonds through UniCapital at the BSE.
The company's first issue of bonds was registered in the State Securities Committee in April 2007. The issue volume hit 700,000 manat, the par value of each bond - 100 manat, annual rate of bonds - 14 percent, turnover period - 365 days.
The regular meeting of the Unibank Supervisory Board took a decision to establish UniLeasing on Feb.24, 2004. The company passed official registration on June 17, 2004.
The company renders services on funding the purchase of passenger cars, trucks, construction equipment, industrial and medical equipment, and residential and commercial property.
UniLeasing founders are Unibank (66.67 percent) and EBRD (33.33 percent). The company's authorized capital is 1.8 million manat.
The official exchange rate is 0.7869 manat to $1 on June 28.