Azerbaijani bank starts placing bonds with 15 percent yield
Azerbaijan, Baku, Jan. 18 / Trend /
"Celsi Kapital" LLC applied to CJSC "Baku Stock Exchange" (BSE) to include "Parabank" OJSC interest-bearing book-entry registered unsecured bonds to the non-quotation list of BSE, BSE said today.
The process of placing "Parabank" OJSC bonds is planned to be launched from January 18, 2013.
Around 6,000 bonds at par value of 1,000 manat were issued within the emission. The yield on the bonds is 15 percent per annum with maturity of five years. Interest payments will be made quarterly.
Parabank was founded on December 3, 1991. Over 80 percent of its shares are owned by five individuals, and the rest - 14 minority shareholders.
The official exchange rate is 0,7848 AZN/USD on Jan. 18.