Corporation Accord fully completed the placement of interest-bearing bonds

Baku/14.01.14/Turan : Placement of unsecured interest bonds worth 50 million manat took the corporation Accord only two months. Yesterday at the Baku Stock Exchange one investor sold the remaining 12.2 thousand bonds amounting to 12.2 million manat.

The bonds were implemented within 6 transactions. The bonds were placed by the brokerage company LLC International Transaction Systems." As a market maker of new bonds Industry - Construction Investment Corporation Akkord acts the International Bank of Azerbaijan. The Bank provides liquidity securities corporation during their three-year treatment. The State Committee for Securities registered the issue of securities ( 11.75 %) on November 4 last year. Total production was 50,000 bonds with par value of AZN 1,000 each.

At the beginning of the placement of shares authorized capital of the Corporation was 84 million ( $ 100 million ) . However, after the reorganization by the secession of four legal entities (LLC Gazakh Cement Zavodu, Garadagh Marmar Granite, Accord Prefabrik and Accord Beton) in late December, the registered capital decreased to 74.2 million manat.

This is the second issue of corporate bonds by the corporation . The first issue of bonds for the same amount was made in October 2010. Its yield was then 12.5%. Funds are raised to finance investment projects of the JSC.

Note that the corporation Accord is one of the few non-financial companies traded in the capital market to raise funds. - 08B-