PASHA Bank’s Turkish subsidiary eyes issuing bonds worth 730M liras
Baku, Azerbaijan, Apr. 1
By Orkhan Quluzade – Trend:
In 2017, PASHA Yatirim Bankasi A.S., a subsidiary of Azerbaijan’s PASHA Bank OJSC in Turkey, plans to issue bonds worth up to 730 million Turkish liras with a maturity of five years, according to a decision of the bank shareholders’ general meeting.
The official exchange rate is 3.6362 TRY/USD on Apr. 1.
A part of the issue of bonds worth up to 230 million Turkish liras can be placed abroad and up to 500 million liras can be placed in the domestic market, reads a report posted on the website of Turkey’s Public Disclosure Platform.
Bond interest rates can be fixed or variable.
Turkey's Banking Regulation and Supervision Agency (BRSA) approved PASHA Bank's purchasing 79.9 percent shares in TAIB Bank, which was renamed to PASHA Yatirim Bankasi, on December 29, 2014. Later, PASHA Bank increased its stake to 99.9 percent. The remaining part belongs to other shareholders.
Pasha Bank is a leading corporate bank in Azerbaijan. The bank, founded in 2007, renders a range of corporate banking services, including issuance of loans, operations in the securities market, asset management, and treasury services.
Official exchange rate on April 1 is 3.6362 TRY/USD.