The non-bank credit organization Prokredit started the placement of bonds in the amount of 400 thousand manat.
According to the BSE, the unsecured securities are included in the non-quotation list of BSE. The emission is divided into 400 bonds with par value of 1 thousand manat per security.
The term of the bonds placement is 730 days and the yield is 12% per annum. The underwriter of the bonds placement is LLC Chelsea Capital. The placement is made by public subscription.
NBCO Prokredit was registered in February 2011. The authorized capital is 300 thousand manat. The shareholder of the organization is one individual.
By January 1, its total assets were 2.47 million manat and the loan portfolio was 2.18 million AZN. --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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