An auction on placement of unsecured book-entry bonds of non-banking credit organization “International” (NBCO) with code AZ2004021021, par value AZN 2 million with circulation period of 18 months was held at the Baku Stock Exchange. This is informed by the BSE.
According to the report, 20,000 bonds face value of AZN 100 were offered to investors in the standard segment of the market through a competitive auction. Seven investors submitted seven bids for AZN 100 each for total amount of AZN 2 million.
Thus, the placement was carried out in full.
According to the issuer’s decision the weighted average cut-off price of the bonds was set at AZN 100.
Note that the annual yield of the securities is 13%. Interests will be paid every 3 months.
The bonds will mature on 7 December 2023. Underwriter of the offering is Azfinance investment company.
Source: Turan News Agency