Corporation Accord begins the second issue
Accord Corporation issued unsecured bonds worth 50 million manat, designed to accommodate the mass method. The State Committee for Securities registered the prospectus of the interest-bearing securities of the company on November 4.
This is actually the second in a row placement of corporate bonds by the corporation. The first issue of bonds for the same amount was carried out by JSC Accord Insaat Senaye (one of the founders of the corporation) in October 2010. The yield on the bonds was 12.5%. The funds are raised to finance investment projects of the JSC. Repayment of the bonds in accordance with the prospectus was completed at the end of September this year.
JSC Industrial Construction Investment Corporation Accord is one of the few non-financial companies traded in the capital market to raise funds. The main "players" of the market are banks, non-bank credit organizations, insurance and leasing companies.
The authorized capital of the corporation is AZN 84 million ($ 100 million). - 08D -