ADB issued bond in Azerbaijani manat

ADB issued bond in Azerbaijani manat
# 28 November 2023 10:03 (UTC +04:00)

The Asian Development Bank (ADB) once again issued a bond denominated in Azerbaijani manat and attracted 14.5 million manats (about 8.5 million dollars), the Bank told APA-Economics.

Noted that this is ADB's fifth gender bond issued in the local currency of a developing member country this year and reflects ADB's strategy to attract investors to its lending program.

The maturity of the bonds is 3 years, the annual interest rate is 6.25%, and the coupon payment is made once every six months. The main objective is to expand access to credit for women and agricultural workers. The bond is denominated in Azerbaijani manat, but in US dollars, which makes it easier to attract international investors.

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