The State Securities Committee has registered the emission of percentage non-documentary registered bonds by Bank of Baku РћРђРћ. Trend reports with reference to press release of Baku Stock Exchange, the emission amount is 2mln AZN at one bond nominal of 1k AZN.
Annual percentage rate on these bonds is 14% and turnover 2 years (720 days).
The bonds Bank of Baku РћРђРћ issues will be placed starting August 29, 2006.
Percentage on bonds is calculated based on bonds nominal cost and paid 180 calendar days from the placement date. Second payment is effected 360 calendar days and third 540 days from the placement date. The last percentage payment is effected alongside the bonds redemption.
According to the emission plan, the placement is performed through the open subscription at BSE. Bank of Baku OAO performs as an underwriter for these bonds.