Two Non-bank Credit Organizations Turned to Capital Market
The State Committee for Securities registered the July 23 issue of unsecured interest bonds of two non-bank credit organizations.
According to the SSC, LLC NBCO Premier intends to draw from the capital market $ 580 thousand and Inc. Credagro intends to draw 3 million manat. The Committee does not announce the interest rate or maturity of those securities.
LLC NBCO Premier has been operating from December 2014 and JSC Credagro - since 2000. Both lenders offer loans at different directions at least at 23% per annum.
In Azerbaijan, private corporate bonds are placed under the 8-15% per annum. Their issuers are mainly NBCOs, commercial banks, insurance and leasing companies. Currently in circulation there are 46 issues of public and private corporate bonds. -----08D
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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