PASHA Bank’s Turkish subsidiary places 2017 debut bonds

Business Materials 10 April 2017 20:35 (UTC +04:00)

Baku, Azerbaijan, Apr. 10

By Orkhan Quluzade – Trend:

PASHA Yatirim Bankasi AS, a subsidiary of Azerbaijan’s PASHA Bank OJSC in Turkey, placed bonds worth 27 million Turkish liras, with a maturity period of 171 days, on domestic market, says a message released by Turkey’s Public Disclosure Platform (KAP).

The placement is the first in 2017.

The annual aggregate yield on the bonds is 13.24 percent, and the simple annual interest rate is 12.8 percent.

As it was previously reported, in 2017, PASHA Yatirim Bankasi plans to issue bonds worth up to 730 million Turkish liras with a maturity period of up to five years. A part of the bonds worth up to 230 million liras can be placed abroad and up to 500 million liras can be placed on the domestic market.

The interest rate on bonds can be fixed and variable.

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.

Turkey’s Banking Regulation and Supervision Agency (BDDK) approved PASHA Bank's purchasing a 79.9 percent share in TAIB Bank, which was renamed to PASHA Yatirim Bankasi, on Dec. 29, 2014. Later, PASHA Bank increased its stake to 99.9 percent.


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