BAKU, Azerbaijan, The Baku Stock Exchange (BSE) held an auction for the placement of unsecured uncertified bonds of Azerbaijan’s Azkredit NBCO (non-banking credit organization) in the amount of 500,000 manat ($294,128) with a circulation period of 12 months, on January 26, Trend reports via the BSE.

According to the exchange, one investor submitted one bid during the auction.

The annual rate of bonds was 8 percent, and interest payments are paid to investors every 90 days.

The placement underwriter was INVEST-AZ Investment Company CJSC.

Bonds of ‘Azkredit’ NBCO with a total value of 500,000 manat ($294,120) were listed in the standard market segment on January 23, by the decision of the Listing Committee of the Baku Stock Exchange (BSE).

Baku Stock Exchange JSC was established on August 27, 1997. Since its establishment, BSE has been the only stock exchange organized in the stock sector of Azerbaijan.

Baku Stock Exchange is an exchange with an annual turnover of over 14 billion manat ($8.2 billion), unique history, strong relations with professional participants of the stock market and partnership relations with many foreign stock exchanges.

Source: TREND News Agency