Azerbaijan Railways is issuing bonds worth $30 million, APA-Economics reports.
According to the information, Azerbaijan Railways (ADY) will issue 300,000 interest-bearing, registered, unsecured, non-documentary bonds, each with a nominal value of $100.
The annual interest rate on the bonds will be 7%. Interest payments will be made quarterly, every three calendar months, starting from the date the first bond is placed (calculated on the basis of 30 days per month).
It was noted that the funds raised through the bond issuance will be directed toward financing priority investment projects aimed at renewing ADY’s rolling stock fleet. Within this framework, the purchase of seven mainline locomotives is planned. The project’s base cost amounts to $25.935 million, with an additional $5.187 million allocated for VAT (20%) and customs duties.
These investment measures are intended to increase freight transportation capacity, improve operational efficiency, and enhance the quality of logistics services.
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