BAKU, Azerbaijan, October 28. Azerbaijan's TBC Kredit non-banking credit organization (NBCO) plans to issue bonds for one million manat ($588,254), Trend reports citing the Central Bank of Azerbaijan (CBA).
According to the bank, the issuance of 1,000 bonds with a par value of 1,000 manat ($588.25) and a circulation period of 24 months is expected. The coupon rate is estimated at 12 percent per annum (coupon payments are made every 180 days).
Funds raised from the bond placement will go to increasing the loan portfolio.
The placement underwriter is AzFinance Investment Company CJSC.
