International financial institution to issue bonds in local currency first time in Azerbaijan


July 17, Fineko/abc.az. Bonds of an international financial institution will be issued in local currency for the first time in the history of Azerbaijan's securities market.

The Financial Market Supervision Authority (FIMSA) informs that the issue of the first tranche of bonds for AZN 10 million of the Black Sea Trade & Development Bank has been registered.

Also, the BSTDB plans an issue of manat bonds for totally AZN 50 million.

Such steps will provide small and medium-sized businesses in Azerbaijan with access to long-term cheap financial resources.

The bonds issued by the Bank will be placed on the Baku Stock Exchange as soon as possible by the method of mass supply.

FIMSA expects issues of bonds on the local market in the near future from the Asian Development Bank, the European Bank for Reconstruction & Development and the International Finance Corporation.