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Azerbaijan's major company issues bonds with 12% yield

Trend | April 17, 2018
 The Islamic Chamber of Commerce , Industry and Agriculture (ICCIA)

The Baku Stock Exchange (BSE) will hold an auction for placement of interest-bearing registered unsecured bonds of Azerbaijan's major pipe producer, METAK, worth 3 million manats, the BSE said on April 16.

The BSE said that 3,000 bonds with a nominal value of 1,000 manats each and maturity period of 365 days will be auctioned. The yield on the bonds is 12 percent per year.

The interest income will be paid once a month.

Investment company Unicapital is the underwriter of the issuance.

METAK has been operating in Azerbaijan since 1997. Presently, the company offers local and foreign customers more than 250 products, including pipes and fittings made of polypropylene, reinforced fiberglass pipes and metal-plastic fittings.