Differentiated approach to the bonds by Visa Credit

The State Committee for Securities registered the issue of unsecured bonds of the two non-bank credit organization OOO Visa Credit. The company issued corporate bonds, taking into account the realities of the stock market against the background of the loss of confidence in securities on manat.

The company intends to sell to investors bonds in the amount of 90,000 manat and $ 500,000.

The company's Capital Management Investisiya Sirketi, which acts as an underwriter for the placement of the Central Bank noted that the bonds will be paid quarterly mode of 12% per annum. They are outstanding over 3 years.

This is the second attempt to FINCA Visa Credit to raise capital through the stock exchange. The last time the company issued and placed bonds in the amount of 500 ths. Manats in the summer of 2013 to the same interest rate. According to the prospectus, the bonds must have been in circulation for five years. However, the company bought and paid for them in advance.

FINCA Visa Credit Ltd. was founded in August 2011. Its founders are Jeyhun Mehdizade (50%) and Yashar Mammadov (50%). The authorized capital is 350,000 manat.

Due to the sharp depreciation of the manat forced issuers to issue securities in foreign currency, as manat bonds are not attractive to investors.

FINCA are active participants in the securities market in Azerbaijan. They are leaders in the intensity of the issuance of corporate bonds. Currently, the outstanding bonds of FINCA FINOKO, of FinEx Credit, of Pro Credit, Ltd. Premium Credit, Ltd. Mercury, LLC Brand Credit, LLC Finca Azerbaijan Ltd. and TBC Credit. --08B