Azerbaijan’s Kapital Bank issues $100 million bonds
Azerbaijan, Baku, May 1 / Trend A.Akhundov /
The State Securities Committee (SSC) of Azerbaijan registered an issue prospectus of interest bearing undocumented registered bonds of Kapital Bank to the total amount of 75 million manat, the committee stated on its website.
According to the statement, 75,000 registered bonds with a par value of 1000 manat each were registered within the scope of the emission. Kapital Bank is planning a private placement of its bonds.
This is Kapital Bank's second bond issue this year. In January, the bank registered unsecured bonds to a total amount of 60 million manat.
Kapital Bank is the second largest bank in Azerbaijan by its assets' and retail deposit size as of 2011.
The bank has the largest network of subsidiaries and a large customer base in Azerbaijan. To date, the country has 89 subsidiaries and 11 branches.
Until the summer of 2008 Kapital Bank was fully state-owned. Currently, the main shareholder of Kapital Bank is Pasha Holding, which owns 97.75 per cent of its shares.
The official exchange rate for May 1 is 0.7846 AZN / USD.