Kapital Bank Considers Possibility Of Placing Manat Bonds In Near Future - Chief .......
Date
5/17/2024 7:15:55 AM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 17. Kapital bank isconsidering the possibility of placing manat bonds soon, chairmanof the board and chief executive officer of Kapital Bank FaridHuseynov said during the press conference, Trend reports.
“Kapital Bank aims to actively participate in the capital marketof Azerbaijan. There is work in this direction and I can alreadyannounce our manat bonds,” he said.
According to him, Kapital Bank earlier issued bonds worth $35million at 7 percent.
“This is the highest yield ever offered on dollar bonds. Thebonds have a face value of $100 with an interest payment periodevery 90 days and a tenor of 7 years. The placement has alreadybeen completed.
However, I would like to emphasize the fact that the volume oforders placed by individuals reached a record 81.8 percent comparedto the previous two years. This is a successful result in thedirection of attracting individuals to the financial market,”Huseynov noted.
Farid Huseynov emphasized that Kapital Bank has issued similarbonds before.
“It's just that this is the first public placement of the bank'ssubordinated bonds. Fast-growing banks are increasingly turning tosubordinated bonds to support further asset growth, to maintain theleverage ratio, and in general to achieve long-term strategicgoals,” he added.
MENAFN17052024000187011040ID1108225816
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.