The corporation Accord fully placed the second issue of its corporate bonds worth 50 million manat. This is one of the rare cases in Azerbaijan of application from a company for capital to the capital market .
In the second issue of corporate securities corporation Akkord, filed November 4, 2013 , was issued 50,000 bonds with a total nominal value of AZN 50 million . Face value of each bond is 1,000 manat and the rate of return is 11.75 % per annum.
The corporation staff told Turan, 15,000 bonds were purchased by JSC AtaBank while 35,000 - by JSC International Bank of Azerbaijan.
The maturity is 3 years. As the market maker here acts International Bank of Azerbaijan.
Recall that the first issue of corporate bonds of the corporation was carried out in 2010. At that time they also issued 50,000 bonds worth 50 million manat. Yield of the securities then was 12.5 % per annum. In November 2013 the Corporation Accord fully and promptly repaid the value of the outstanding bonds.
The corporation is one of the leading construction and industrial companies in Azerbaijan. It performs great building projects inside and outside the country. - 08D -
Economics
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