Unibank OJSC today launched a placement of bonds worth 20 million manat.
According to the Baku Stock Exchange (BSE), the issue of securities is divided into 20 000 bonds with a par value of each security in 1,000 manat.
The term of bonds placement is 720 days and the yield is 9.75% per annum. Interest payments will be carried out every 90 days.
The placement underwriter, as expected, is Unicapital. The bank plans to direct the funds, raised from the bond issue, to lend small and medium-sized businesses. Unibank portfolio lending business during the year increased by 56% - up to 208 mln. manat.
Unibank OJSC was founded in October 2002. In the charter capital 66.21% is owned by individuals, 33.79% - by legal entities, including 12.15% by EBRD and 6.68% by German DEG. --17D-
Economics
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