BAKU, Azerbaijan, March 29. An auction for the placement of unsecured non-documentary bonds of the Finca Azerbaijan non-bank credit organization (NBCO) with the two-year circulation period has been held at the Baku Stock Exchange (BSE), Trend reports citing the BSE.
According to the BSE, during the auction, nine investors submitted nine bids. The annual interest rate on the bonds made up 12.5 percent, and the interest fees will be paid to the investors every three calendar months.
The auction price amounted to 1,000 manat ($588.2), and the total amount of orders at face value – three million manat ($1.76 million).
The maturity date of the bonds is March 18, 2024.
The placement underwriter is Az Finance CJSC.