State Committee for Securities registered the issue prospectus of interest-bearing book-entry unsecured bonds of "Brand Credit", for a total of 1 million manats. The par value of a bond is AZN 1,000, the period - 1080 days, the annual interest rate - 14%.
According to the prospectus, placement will be conducted by public subscription at the Baku Stock Exchange. Underwriter Securities LLC will act "Unicapital".
Non-bank credit organization Brand Credit is valid from 2011. The authorized capital of the company is 900 manats. One of the major shareholders (47% equity) is the chairman of the board of DekaBank. -15B ---
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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