Baku /26.09.17/ Turan: Azerbaijan"s leading corporate bank -Pasha Bank"s subsidiary office Pasha Bank Turkey has successfully issued and placed its USD denominated bonds in Azerbaijan"s securities market. It is the first time that a foreign company issues bonds in hard currency in Azerbaijan"s market. Considering the fact that the issuer is a foreign company and currency of the issue is different from the currency the company operates with, it is the first Eurobond issue in Azerbaijan market.
The bond parameters are the following: the total amount is 25 million USD, the term of turnover is 5 years 3 months, the coupon interest rate is 4.85%, and the coupon payment is quarterly.
The underwriter of the issue is CJSC Investment Company Pasha Capital, another subsidiary of OJSC Pasha Bank. The name of the company that acquired the securities is not disclosed.
In 2013-2015, OJSC Pasha Bank purchased 99% of shares in OJSC TAIB Bank from Aksoy Holding. Later the bank was renamed into OJSC Pasha Yatirim Bankasi. OJSC Pasha Bank, a member of the Pasha Holding group of companies, also has a 100% subsidiary bank in Georgia. ----- 08D
Finance
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