Azerbaijan non-bank organization issues bonds with 14% yield
Baku, Azerbaijan, Feb.28
By Azad Hasanli - Trend:
The State Securities Committee (SSC) of Azerbaijan has registered the issue prospectus of unsecured interest-bearing book-entry bonds of FinEx Kredit non-bank credit organization totaling $400,000, Baku Stock Exchange (BSE) said Feb.28.
The official exchange rate for February 28 is 1, 0498 AZN / USD.
Some 800 bonds with a par value of $500 each have been issued within the framework of emission. The circulation period of securities is 720 days with a yield of 14 percent per annum and the period of interest payment on a quarterly basis.
Technika Capital Management Ltd. is the underwriter of the placement.
FinEx Kredit JSC operates in Azerbaijan since September 18, 2013.
The organization is mainly engaged in lending to small and medium-sized businesses and provides services to customers both in the capital and districts of the country.
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