BAKU, Azerbaijan, August 4. The Baku Stock Exchange (BSE) hosted an auction on the placement of unsecured non-documentary bonds of Azerbaijan's Finance for Development LLC Non-Banking Credit Organization (NBCO) worth one million manat ($588,589) and with a circulation period of two years on August 4, Trend reports citing the BSE.
According to the BSE, 10 investors submitted 10 bids during the auction.
The annual interest rate is 12 percent, and interest payments are paid to investors every 30 days.
The maturity date of the bonds is August 4, 2024.
The placement underwriter is AzFinance Investment Company CJSC.