Azerbaijani leasing company to place bonds with 14 percent annual rate
Azerbaijan, Baku, Jan. 30 / Trend /
The State Committee for Securities has registered the issue prospectus of interest-bearing book-entry registered unsecured bonds of FinansLizinq OJSC for a total amount of 400,000 manat, the statement of the Baku Stock Exchange (BSE) released on Wednesday says.
The prospectus includes 800 bonds at par value of 550 manat. Turnover period is 720 days at an annual interest rate of 14 percent. The underwriter of the issue prospectus placement is Texnika Kapital Menecment LLC.
According to the issue prospectus, placement will be held by means of initial public offering at Baku Stock Exchange.
This is the first placement of bonds in 2013 by Finans Lizinq Company being an active participant in the corporate bond market.
FinansLizinq passed state registration on April 2, 2007. Presently, about 16 Azerbaijani physical entities are shareholders of the company. Major part of shares is owned by Azad Javadov and Tokay Shakhalizade (15.83 percent), Mobil Sharifov (15.17 percent) and Ibrahim Ibrahimov (10 percent).
The official exchange rate for Jan. 30 is 0.7844 AZN / USD.