The next week Bakcell Ltd will start mass BSE deployment of its unsecured bonds of the second issue, which is scheduled to be completed, not later than in one month.
According to the published prospectus at BSE, the total nominal value of the bonds is 40 million AZN, exactly the same as it was released three years ago. The attracted funds will be used to refinance current liabilities of the mobile operator (the company owns the trademark Bakcell). As of November 27 creditor debts of the company exceeded 69.2 million manat
Maturity of the bonds of Bakcell LLC, the first issue in December 2011, completed a few days ago. All the 40,000 securities were then purchased by JSC Pasha Bank.
According to the prospectus, the bonds will be in circulation for more than 1,080 days. Annual interest rate on the bonds is 9%, which is 0.5% points less than in 2011. Interest on the bonds will be paid every three months.
Underwriter of the securities is brokerage LLC Pasha Capital.
By the end of 2013, the company paid to the sole shareholder (the company GBIT 1996 LLC, British Virgin Islands) 66,890,200 manat.
The authorized capital of LLC Bakcell is 9,908,000 manat. The Board of Directors consists of five members. It is chaired by Pauly Lothar Heinrich Andreas simultaneously holding the post of Director of the Egyptian telecom company Mobiserve. --08B-
Economics
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