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
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Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
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Over 17,750 life insurance contracts and 40,661 property insurance contracts were signed through Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF) between 2022 and 2024, reflecting the growing role of the Fund in strengthening the housing finance and insurance markets. These figures were revealed by Rasim Abdullayev, Director of the Mortgage Lending Department at MCGF, during the seminar "Tools for Supporting Housing Finance and Entrepreneurship."
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The value of paid services provided to the population in Baku reached 6.94 billion manats in the first eleven months of 2024, reflecting a real-term increase of 9.2% compared to the same period in 2023, according to data from the Baku City Statistical Department.
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According to data from the Baku City Statistical Department, the retail trade turnover in Azerbaijan’s capital, Baku, increased by 5% year-on-year from January to November 2024, reaching 31.6 billion manats. This growth reflects the steady recovery of the economy and consumer confidence amid broader market stability.
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