BAKU, Azerbaijan, June 7. Azerbaijan's TBC Kredit non-banking credit organization (NBCO) auctioned unsecured non-documentary bonds worth one million manat ($588,588) with a circulation period of two years at the Baku Stock Exchange (BSE) on June 7, Trend reports citing the BSE.
According to the BSE, six investors submitted six bids in the price range of 1,000 manat, or $588.58 (six percent).
The annual interest rate is 12 percent, and interest payments are paid to investors every six calendar months.
The maturity date of the bonds is June 6, 2024.
The placement underwriter is AzFinance Investment Company CJSC.