Baku, Azerbaijan, Nov. 14
By Emin Aliyev - Trend:
The Azerbaijani largest leasing company 'Joint Leasing' will place bonds worth 10 million manat until the end of the year, Joint Leasing director general Elchin Ahmadov said at a conference today.
According to him, the yield on the bonds will hit 10 per cent per annum and the term of placement is five years.
'Joint Leasing' shareholders decided to continue the company's development to increase the company's attractiveness for international organisations to facilitate the opportunities for international financial resources," he said. "One of the tasks was to increase the country's share capital."
The company's authorised capital was increased from 700,000 manat to 1.26 million manat.
Joint Leasing Company JSC began functioning on June 14, 2007, as a legal successor to the Azerilizing Company. The founders are the British DH Leasing LTD company (52.3 per cent) and the International Bank of Azerbaijan.
The Azerbaijani first leasing companyAzerlizing joint venture was established in 1999.
The official exchange rate is 0.7843 AZN/USD on Nov. 14.