Baku, Azerbaijan, June 1
By Emin Aliyev - Trend
Pasha Bank will act as an underwriter of three obligation emissions in the amount of up to 100 million manats, the bank's chief investment officer Taleh Kazimov told Trend on May 30.
"In the current year, we have yet to carry out such operation. At the same time, we plan to become the underwriters of the three issues of bonds of several issuers, among which are commercial banks," he explained.
Kazimov went on to add that the first issue is scheduled for May-June, the second - for August-September and the third for October-November, noting that the overall volume of issues will be 80-100 million manats.
Pasha Bank began to offer underwriting services to legal entities since the beginning of 2011.
In the future, the bank plans to strengthen its positions as a professional market participant, organizing releases of new issuers and to develop the secondary market securities.
Today, about 20 issues of totaling worth more than 180 million manats were carried out, Kazimov said.
"Given that some papers have already been closed, the securities of some 15 issuers in the amount of more than 180 million manats are in the circulation process," Kazimov noted.
Pasha Bank is a leading corporate bank of Azerbaijan. Founded in 2007, it provides a wide range of corporate bank services such as granting of loans, transactions in the security market, management asset and treasury services. Some 268 people work in Pasha Bank, submitted to the head office and five branches.
As part of "Europe Banking Awards" in 2011, 2012 and 2013, bank was declared as the "Best Investment Bank of Azerbaijan" and also awarded as the "Best Private Bank of Azerbaijan" in release of "World Finance" in 2013.
Pasha Bank is part of Pasha Group of companies - a major investment holding in Azerbaijan, widely represented in such sectors as insurance, construction, production of building materials, tourism and other business areas. Kapital Bank is one of the largest retail markets in Azerbaijan, which also belongs to Pasha Group of Companies.
Official exchange rate is 0,7844 AZN/USD on May 30.
Azerbaijani bank to hold underwriting of emissions up to amount of $127mln in 2014
Pasha Bank will act as an underwriter of three obligation emissions in the amount of up to 100 million manats, the bank's chief investment officer Taleh Kazimov told Trend on May 30.