Non-bank credit organization “Kredagro” announced the issue of bonds in Azerbaijani manats.

The prospectus of the NBCO’s bond issue is posted in the electronic disclosure system of the Central Bank of Azerbaijan.

The document states that the placement of unsecured, undocumented bonds with a nominal value of 100 to 10,000 manats (1 million manats) is provided for on the Baku Stock Exchange by means of public offering. The bonds, which will be in circulation for 18 months, promise a yield of 11% per annum. Interest will be paid every 3 months. The underwriter of the placement is the investment company “Azfinance”.

Note that the issuer will not redeem securities during the circulation process.

Source: Turan News Agency