Big Azerbaijani company to auction manat bonds
Baku, Azerbaijan, Jan. 23
By Anvar Mammadov – Trend:
An auction on placement of interest-bearing book-entry registered unsecured bonds worth two million manats of METAK LLC will be held at the Baku Stock Exchange (BSE) on Jan. 25, the BSE said in a message Jan. 23.
The message says that 2,000 bonds with a nominal value of 1,000 manat each and maturity period of 365 days will be auctioned.
The yield on the bonds is 14 percent per year.
Interest payments will be paid quarterly.
Azerbaijan’s investment company AzFinance is the underwriter of the issuance.
(1.7001 AZN = 1 USD on Jan. 23)