The first issue of bonds in local currency by international financial institution
On July 16, 2019, the Financial Market Supervisory Authority of the Republic of Azerbaijan registered the first issue of bonds of the Black Sea Trade and Development Bank in the amount of 10 million manat. This is the first case of international financial organization issuing securities in local currency in Azerbaijan.
This significant case proves government's efforts to develop the securities market in the country, as well as to promote the issuance of bonds in the local market by international financial institutions. It will contribute to the development of entrepreneurship and will provide small and medium-sized enterprises with access to long-term affordable financial resources.
The annual yield of bonds with a nominal value of 1.000 manat is 9,25% and interests are expected to be paid every 3 months. The bonds will be placed at the Baku Stock Exchange.