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Technikabank to place the rest of corporate bond issue as soon as the market calms down

Technikabank to place the rest of corporate bond issue as soon as the market calms down

27 October 2008 15:17 (UTC +04:00)

Baku. Rashad Suleymanov â€“ APA-Economics. Azerbaijanâ€™s Technikabank will continue selling the rest of a corporate bond issue as soon as the market calms down.
Of the $36 million debut issue, bonds of $26 million were placed in London and $10 million in the Baltic States, said the bank.
Some of the bonds were for three years and some for 1 year.
Morgan Stanley was the manager for the bond flotation.
As of October 1, Technikabankâ€™s assets stood at AZN 439.644 million, loan portfolio at AZN 78.663 million and total capital at AZN 57.438 million.
The bank operates 35 branches, 2 offices and 3 exchange offices, 46 ATMs and 327 POS terminals across the country.

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