Bank Of Baku

TBC Kredit finishes bond placement

TBC Kredit finishes bond placement
# 25 April 2013 10:37 (UTC +04:00)

 

Baku. Nijat Mustafayev – APA-Economics. TBC Kredit non-banking credit organization has fully finished the placement of corporate bond emission. 

 

According to organization, face value was AZN 10,000, quantity – 200 and the volume of the issue – AZN 2 mln. Underwriter was ADB Broker LLC. Circulation term was 360 days, YTM – 7%, interest payment date – 90 days.

 

“First placement of bonds was successful. Issuance of bonds is additional alternative financing instrument for us and it allows diversification of investments borrowing funds from foreign and from local financial institutions”.

 

Remind that TBC Kredit has been in operation since 1999. 

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THE OPERATION IS BEING PERFORMED