Azermash Group to issue AZN 10 mln in government-backed bonds

Azermash Group is preparing to place AZN 10 million worth of interest-bearing registered bonds on the Baku Stock Exchange, the bourse said.

The company will offer 10,000 bonds with a nominal value of AZN 1,000 each, with a maturity of 36 months and an annual yield of 13%, paid quarterly.

PASHA Capital is the underwriter of the issuance. The Mortgage and Credit Guarantee Fund will guarantee 60% of the nominal value.

The issuer has the right to repurchase the bonds in stages in the 27th, 30th, 33rd and 36th months.

N.Tebrizli