Today at Baku Stock Exchange starts placement of bonds of Finance Leasing. The Listing Committee of the Stock Exchange included securities of the leasing company in the standard (second) level listing.
The company expects to post 1,200 unsecured bonds and bring USD 600,000 to extend the lease portfolio. The decision to issue these securities was made by the shareholders on February 3. The yield on the bonds is set at 14% per annum. The securities will be in circulation for 720 days.
Established since 2007, the company is an active participant in the securities market. It is noteworthy that all four bond issues totaling 1.82 million manat were carried out in the national currency. Only this year, on the eve of the devaluation of the manat, the fifth issue of bonds was made in US dollars. To date, the company has raised 1,275,500 manat from investors in these securities.
The shareholders of Finance Leasing are 17 individuals, four of which own more than 10% of the shares. --08D
Economics
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