The State Committee for Securities registered the issue prospectus of interest-bearing book-entry unsecured bonds of Credit House for a total of 1 million manat. The par value of a bond is AZN 1,000, the period is 720 days and the annual interest rate is 8%.
According to the prospectus, the placement will be held through public offering at Baku Stock Exchange. Underwriter of the securities is LLC Chelsea Capital.
Non-bank credit organization Credit House operates since 2011. It is mainly focused its activities in the issuance of small and medium entrepreneurs and individuals business loans, micro loans, consumer loans, auto loans and term loans. - 15B -
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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