(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 17. The Baku
Stock Exchange (BSE) hosted an auction to place unsecured
uncertified bonds of the FINCA Azerbaijan non-banking credit
organization (NBCO) LLC on March 16, trend reports citing the BSE.
The bonds were in the amount of 3 million manat ($1.7
million) with a circulation period of 24 months.
According to the BSE, a total of 7 investors submitted
seven bids during the auction.
The annual rate of bonds was 12.5 percent. Interest
payments are paid to investors every three months.
The placement underwriter is AzFinance Investment
Company OJSC.
Bonds of FINCA Azerbaijan NBCO with a total value of
three million manat ($1.76 million) were listed in the standard
market segment on September 30, 2022, by the decision of the BSE
Listing Committee.
According to the Central Bank of Azerbaijan, as many
as 55 NBCOs are currently operating in the country.
The non-bank credit organization is a specialized
credit organization that provides loans and other activities based
on a special agreement (license) envisaged by the Law on the
non-bank credit organizations'.
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