One Non-Resident Buys 50% of Bonds of Azerdamiryolbank

Business Materials 11 December 2006 20:56 (UTC +04:00)

Placement of interest non-documentary name bonds of Azerdamiryolbank OJSC has been held in the Baku Stock Exchange (BSEX) today. The volume of the issue reached $4 mln. However, bonds were placed only to the amount of $2 mln., Trend reports referring to a message spread by BSEX. The face value of each bond issued was like the selling one was $1.000.

The yield on the bonds was set at a rate of 14%, with the circulation time of one year (365 days).

All the interest non-documentary name bonds of Azerdamiryolbank, which were placed, were bought by one legal person-non-resident.