Azerbaijani NBCO issues bonds with 14% yield

Azerbaijani NBCO issues bonds with 14% yield
11:07 21 Dekabr 2015
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Baku, Azerbaijan, Dec. 21

By Anvar Mammadov – Trend:

The State Securities Committee (SSC) of Azerbaijan has registered the issue prospectus of interest unsecured registered book-entry bonds of the Finex Kredit non-bank credit organization (NBCO) totaling $195,000, said the message of the Baku Stock Exchange (BSE) posted on its website.

Some 390 bonds with a par value of $500 each have been issued within the framework of the emission. The term of circulation of the securities is 1,080 days with a yield of 14 percent per annum.

The interest will be paid every three months.

Texnika Kapital Menecment LLC is the underwriter of the placement.

Finex Kredit OJSC has been functioning in Azerbaijan since September 18, 2013.

The NBCO is mainly engaged in lending to small and medium businesses and provides services to clients both in the capital and regions of the country.

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