The relatively new (in force since October 2013) non-bank credit organization FinEx Credit has begun the placement of bonds in the amount of $ 400 thousand.
According to the Baku Stock Exchange (BSE), the issue of unsecured securities is included in the non-quotation list of BSE and is divided into 800 units of par value of $ 500 per bond.
The term of the accommodation is 720 days and the yield is 14% per annum. The underwriter of the bonds placement is LLC Tekhnika Capital Management. The placement is made by public subscription.
According to the official proposal, FinEx Credit plans to use the proceeds from the bond issue to finance leasing operations of small and medium enterprises in Azerbaijan.
NBCO FinEx Credit was registered in 2013. Its authorized capital is 500 thousand manat. The shareholders are one entity and two individuals. --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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