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Azerbaijan : BOND placement started by Azerbaijani AccessBank

June 21, 2014

The exchange said that "AccessBank" OJSC interest-bearing book-entry registered unsecured bonds worth 10 Million manats will be placed at "Baku Stock Exchange" CJSC from June 18, 2014.

Some 10,000 bonds with par value of 1,000 AZN have been issued as part of the emission. The yearly rate of bonds will be 9 percent, with a turnover period of one year, begining from the date of placement of this issue's first bond. Coupon payment period is every 3 months. "Pasha Capital" LLC is the underwriter.

AccessBank was formed to provide financial services to Azerbaijani families, as well as micro- and small entrepreneurs.

The bank is a 100% property of 6 international financial institutions: European Bank for Reconstruction and Development, International Finance Corporation, Black Sea Trade and Development Bank, German KfW Development Bank (each of them owns 20 percent), AccessHolding, which is involved in microfinance area as a strategic investor (16.53 percent), and the German LFS Financial Systems GmbH (3.47 percent).

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Source: TendersInfo (India)

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