Finans Lizinq to issue bonds at 14% annual rate

Placement of issue prospectus of interest-bearing book-entry registered unsecured bonds with volume of 400,000 manat and 14% annual rate of bonds on Baku Stock Exchange will start on January 9.

This is stated in the statement issued by Baku Exchange Stock on Tuesday.
"The leasing company applied to Baku Stock Exchange for inclusion of bonds to the non-quotation list of BSE," the statement says.

The prospectus includes 800 bonds at par value of 500 manat. The turnover period is 2 years and coupon payments will take place quarterly.

The underwriter of the issue prospectus placement is Pasha Kapital.

FinansLizinq passed state registration on April 2, 2007. Presently, about 16 Azerbaijani physical entities are shareholders of the company. Major part of shares is owned by Azad Javadov and Tokay Shakhalizade (15.83 percent), Mobil Sharifov (15.17 percent) and Ibrahim Ibrahimov (10 percent).


/Trend/