BAKU, Azerbaijan, September 7. Today's placement of Unibank's bonds on Baku Stock Exchange promises to become a new record, said Vugar Namazov, general director of Unicapital Investment Company, at the ceremony of Unibank's bond placement at the Baku Stock Exchange, Trend reports.
"Out of 21 issues conducted at the stock exchange, Unicapital acted as an underwriter in 13 of them. The volume of today's placement is expected to reach record highs, emphasizing the importance and trust that investors show in Unicapital," he stressed.
Namazov noted that this bond placement will help diversify funding sources and support the growth of Unibank's business initiatives.
According to him, Unibank continues to strengthen its position in the financial services market.
"The placement of bonds on the stock exchange will be an important stage in the development of the country's financial infrastructure and will provide investors with new opportunities for portfolio diversification. We expect that this event will contribute to the long-term sustainability of the banking system and development of the financial market of Azerbaijan," he said.
The total amount of placed bonds will amount to 20 million manat ($11 million).
Thus, the auction will offer 200,000 bonds with a face value of 100 manat ($58) each with a yield of 11.5 percent, coupon payments will be made every 90 days.
UniCapital Investment Company acts as the underwriter of the offering.