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PASHA Bank’s Turkish subsidiary places eurobonds in Azerbaijan

Business Materials 26 September 2017 14:41 (UTC +04:00)
PASHA Yatirim Bankasi AS, a subsidiary of Azerbaijan’s PASHA Bank OJSC in Turkey, has placed eurobonds worth $25 million in Azerbaijan’s securities market
PASHA Bank’s Turkish subsidiary places eurobonds in Azerbaijan

Baku, Azerbaijan, Sept. 26

By Anvar Mammadov – Trend:

PASHA Yatirim Bankasi AS, a subsidiary of Azerbaijan’s PASHA Bank OJSC in Turkey, has placed eurobonds worth $25 million in Azerbaijan’s securities market, PASHA Bank OJSC reported.

“This is the first time when another country’s resident, operating outside Azerbaijan, places bonds on the Azerbaijani securities market,” the report said.

The bonds’ maturity period is 63 months, a coupon rate is 4.85 percent per annum. Interest payments will be made quarterly. PASHA Capital LLC is the underwriter of the placement.

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.

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.

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