Bank of Baku bonds to be placed on Baku Stock Exchange
Azerbaijan, Baku, Dec. 14 / Trend A. Akhundov /
Starting December 14th, unsecured, registered book-entry interest bonds for the Bank of Baku will be placed on Baku Stock Exchange (BSE) at a volume of 10 million manats, a recent BSE report said.
Some 10,000 bonds at par value of one thousand manats were issued within the emission. The yield on the bonds is 12 percent per annum with maturity of three years. Interest payment will be made quarterly.
"The company appealed with a request on inclusion of its shares in unquoted list of BSE," the statement said.
The bond Underwriter is 'Pasha Kapital' LLC.
Bank of Baku was established in 1994. In 2005, Bank of Baku merged with local IlkBank CB.
The official exchange rate on December 14 is 0.7849 AZN / USD.