Finca Azerbaijan issues bonds for AZN 10 million


June 22, Fineko/ Non-bank credit organization Finca Azerbaijan plans to place bonds for AZN 10 million.

ABC.AZ reports that the placement of bonds is planned in three tranches: 1st and 2nd tranches will amount to AZN 3 million each, and 3rd – AZN 4 million.

The issue is divided into 100,000 bonds with nominal value of 100 manats per security. The maturity of the bonds is 24 months, the yield is 12.5% per annum (coupon payment will be made once a quarter).

The authorized capital of the organization is AZN 3.756 million. Its sole founder is Finca Microfinance Cooperative U.A. (Netherlands).