Bank NIKOIL - guarantor of corporate bonds leasing company
JSC Union Leasing been realized on the first day of placement at the Baku Stock Exchange bonds for AZN 3 million of issued AZN 5 million, according to the BSE.
Leasing Company was established at the end of March this year, a single individual (Ismailov Rufat Abdul oglu). According to the prospectus of bonds is June 1, the company's liabilities reached 7 million manat. Borrowed from the issue proceeds will be used to expand the company's leasing portfolio.
It is noteworthy that JSC Union Leasing bonds guaranteed by JSC Investment and Commercial Bank NIKOIL. In the case of non-fulfillment of obligations on the bonds, the guarantor bank guarantees payment to bond holders is 5.5 million manat.
Union Leasing bonds issued for a period of 3 years at 11% per annum.
Corporate bonds are the most common tool of capital market in Azerbaijan. Currently listed on the BSE are 38 bond issues. Only in July of this year registered the issue of corporate bonds of four, including two leasing companies - Union Leasing (AZN 5 million) and LLC Ecoleasing (AZN 1 million). - 08D-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review