Azerbaijan’s PASHA Bank talks plans for issuing securities
Baku, Azerbaijan, Oct. 17
By Azad Hasanli – Trend:
PASHA Yatirim Bankasi AS, a subsidiary of Azerbaijan’s PASHA Bank OJSC in Turkey, is considering possibility of new issuance of bonds to be placed on the Azerbaijani securities market, Taleh Kazimov, chairman of Azerbaijan’s PASHA Bank OJSC, told reporters in Baku Oct. 17.
In late September, PASHA Yatirim Bankasi AS placed eurobonds worth $25 million in Azerbaijan’s securities market. The bonds’ maturity period was 63 months, a coupon rate was 4.85 percent per annum. PASHA Capital LLC was the underwriter of the placement.
Kazimov said that financial institutions of Azerbaijan became the main buyers of the bonds.
Regarding the plans of Azerbaijan’s PASHA Bank OJSC to issue manat bonds in the country, Kazimov noted that they were postponed. He explained this decision by the growth of manat liquidity in Azerbaijan.
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.