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Big interest in Azerbaijani leasing company bonds

Business Materials 4 July 2011 18:30
Another emission prospect of Unileasing bonds will be posted on the Baku Stock Exchange (BSE) by PASHA Bank and Unicapital.
Big interest in Azerbaijani leasing company bonds

Azerbaijan, Baku, July 4 / Trend /

Another emission prospect of Unileasing bonds will be posted on the Baku Stock Exchange (BSE) by PASHA Bank and Unicapital.

Unileasing has registered an emission prospect of 5,000 unsecured interest bearing nominal bonds at the Azerbaijani State Securities Committee (SSC), the SSC announced.

The company issued 5,000 bonds with the nominal cost of 1,000 manat each.

The rate of bonds is 9.5 percent, turnover period - 360 days. Unicapital is the underwriter.

Unicapital General Director Heydar Ibrahimli said the daily cost of purchasing and selling 5,000 bonds will be determined by Unicapital via PASHA Bank.

"Daily liquidity of Unileasing's bonds within the emission will be provided by PASHA Bank through Unicapital," he said.

He added that the fact that the bonds worth 3 million manat were resold in the secondary market within 2-3 weeks after placing their first issue testifies to the interest of investors in bonds of the leader of the leasing market.

Unileasing's first issue of 5 million manat in bonds took place on May 24 and was successfully placed on the BSE by PASHA Bank and Unicapital.

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 0.7868 manat to $1.

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