PASHA Bank’s Turkish subsidiary places bonds worth 150M liras
Baku, Azerbaijan, June 9
By Azad Hasanli – Trend:
PASHA Yatirim Bankasi AS, a subsidiary of Azerbaijan’s PASHA Bank OJSC in Turkey, placed bonds worth 150 million Turkish liras, with a maturity period of 116 days, in domestic market, says a message posted on the website of Turkey’s Public Disclosure Platform (KAP).
The annual aggregate yield on the bonds is 14.57 percent and the annual simple interest rate is 13.9 percent.
The bonds were placed in several tranches and the last issuance worth 40.5 million Turkish liras was sold to investors on June 8.
As it was previously reported, PASHA Yatirim Bankasi plans to issue in 2017 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 in the domestic market.
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, assets 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.