BAKU, Azerbaijan, April 13. The Baku Stock Exchange (BSE) hosted an auction to place unsecured uncertified bonds of the Falcon Finance non-banking credit organization (NBCO) LLC, Trend reports via the Central Bank of Azerbaijan.
The bonds were in the amount of 700,000 manat ($411,902) with a circulation period of 12 months.
As many as 9 investors submitted 8 bids during the auction.
The annual rate totaled 14 percent. Interest payments are paid to investors every 30 days.
The placement underwriter is PASHA Capital Investment Company OJSC.
Bonds of Azerbaijan's Falcon Finance NBCO worth 700,000 manat ($411,764) were included in the standard listing segment, following the decision of the Listing Committee of the Baku Stock Exchange (BSE) on February 27.
According to the Central Bank of Azerbaijan, as many as 55 NBCOs are currently operating in the country.
The non-bank credit organization is a specialized credit organization that provides loans and other activities based on a special agreement (license) envisaged by the Law on the non-bank credit organizations".