Baku Stock Exchange to start selling bonds of Turkish bank
By Trend
Two different issues of Pasha Yatırım Bankası (Turkey) were listed on the Baku Stock Exchange (BSE) in the main market segment, Trend reports with reference to the BSE.
According to the data, the issue of interest-bearing unsecured bonds AZ2003020172 and AZ2003020173 at the nominal price of $1,000 and with a yield of 2.95 percent were placed in the amount of $25 million each. Interest payments are made monthly and quarterly, respectively.
Re-trading of bonds in the market will begin on Nov. 18, 2019,
The maturity date for the first bond will be April 17, 2022, for the second - Sept. 15, 2021.
PASHA Bank entered the Turkish market in 2015 after acquiring a 79.9 percent stake in TAIB Bank, which was renamed PASHA Yatırım Bankası.
Azerbaijan's PASHA Bank has been operating since 2007 and is part of the PASHA Group of Companies, a large investment holding company also active in the sectors of insurance, construction, production of building materials, tourism and others. Kapital Bank, one of the largest banks in the Azerbaijani retail market, also belongs to the PASHA Group of Companies. PASHA Bank also has a subsidiary bank in Georgia.
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