Azerbaijani bank prepares for placement of bonds with 15% annual rate
Baku, Azerbaijan, April 17
Azerbaijani State Committee for Securities (SCS) registered the issue prospectus of interest-bearing book-entry registered unsecured bonds of Parabank OJSC.
The issue volume is 13,000,000 Azerbaijani manats, according to a message from Baku Stock Exchange (BSE).
Some 13,000 bonds at par value of 1,000 manats were issued as part of the emission.
Annual rate of bonds is 15 percent with a turnover period of seven years.
Coupon payment will be made quarterly. The issue underwriter is the Unicapital OJSC.
Parabank was established on December 3, 1991. Slightly over 80 percent of the bank's shares are owned by five individuals and the rest by 14 minority shareholders.
The official exchange rate on April 17 is 0.7843 AZN/USD.
Translated by E.A.