Mobile operator starts offering bonds in Azerbaijan
Azerbaijan, Baku, Dec 27 /Trend N.Ismayilova/
Azerbaijani mobile operator Bakcell LTD began the deployment of a prospectus registering a non-certificated interest in unsecured bonds worth 40 million manat on Tuesday, the BSE said.
An issue of 40 000 bonds with a par value of 1000 manat each were registered. Placement of the bonds will be closed. The bonds with a yield of 9.5 per cent are for 1080 days. Terms of interest payments are at 90 days.
The subsidiary of the Azerbaijani Unibank, Unicapital has invited a large foreign investor to enter the Azerbaijani market as part of this transaction.
"The attention to the Azerbaijani market is growing in western countries. We do not exclude the possibility of foreign investors' participation in this transaction, however it still expected that local investors will get a deal because the amount of accommodation is adequate," Unibank told Trend.
An increased interest in the bonds on the secondary market is forecasted, reported the bank
Unibank was established on Oct. 15, 2002 as a result of a merger between the MBANK and PROMTEKHBANK private commercial banks. Unibank is a universal finance and credit institution offering retail and corporate services. The shareholders are financial institutions such as the European Bank for Reconstruction and Development (15.1515 per cent) and the German Investment Corporation DEG (8.3333 per cent).
Official exchange rate on Dec 27 is 0.7863 AZN/USD