Baku Stock Exchange to place first 4 mln manat tranche of Embafinans bonds

The Baku Stock Exchange (BSE) will hold an auction on July 30 to place the first tranche of unsecured corporate bonds issued by non-bank credit organisation Embafinans worth 4 million manats, the exchange said.

The total bond issue amounts to 7 million manats. The first tranche comprises 40,000 bonds with a face value of 100 manats each, a 12-month maturity and an annual yield of 13%. Coupon payments will be made quarterly.

The issue is being underwritten by investment company Unicapital.

N. Tebrizli