"FINCA Azerbaijan" NBCO to place new bonds tomorrow
Tomorrow the Baku Stock Exchange (BSE) will hold an auction on placement of new interest-free, unsecured, undocumented bonds of non-bank credit organisation "FINCA Azerbaijan" (NBCO) with the code AZ2006019205 ISIN, nominal value of USD 2.5 million, with 18-month circulation term. This is reported by the BSE.
The message says that by the decision of the BSE Listing Committee 2,500 bonds with face value from $1,000 were included in the standard segment of the market. Securities will be placed by competitive auction method. They are promised yield of 9% APR. Interest will be paid every 3 months. Underwriter of the offering is the investment company "Unicapital".
Finance
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The Central Bank of Azerbaijan (CBA) has approved the ‘Concept of Policy on Risk-Based Control’. This is reported on the website of the structure.
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If 2 years ago a share of local revenues in the budget of the Nakhchivan Autonomous Republic was 20-25%, by this year's end a share of local revenues will exceed 50%.
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The Central Bank of Azerbaijan (CBA) has given binding instructions to 'Azsığorta', 'Atəşgah Insurance', 'İpək Yolu Insurance', 'Xalq Həyat Insurance', 'Aqrar Insurance' and 'AzRe Təkrarsığorta'. This is reported on the CBA website.
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The NBCO 'Para will hold a regular general meeting of shareholders on 4 February at 11:00.
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