BAKU, Azerbaijan, July 14. 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 July 14, Trend reports citing the BSE.
According to the BSE, four investors submitted four bids.
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 July 14, 2024.
The placement underwriter is AzFinance Investment Company CJSC.