“GL” to place bonds tomorrow

Tomorrow an auction will be held at the Baku Stock Exchange (BSE) for the placement of interest-bearing, unsecured, undocumented registered bonds of "GL" joint stock company with ISIN code 2009020283, worth $400.000 and a circulation period of 5 years.

This is reported by the BSE.

The report says that 400 bonds with a nominal value of $1,000 or more were included in the standard market segment. The bonds will be placed by competitive auction. They are promised an annual return of 15%. Interest will be paid every month.

The BSE also included in the listing, in the standard market segment, ordinary, undocumented, registered shares of "GL" in the amount of 50,125 manats. The shares will be placed by subscription.

Note that the process started on May 3. At least 2 business days before the start of the placement, the end of the subscription will be announced on the BSE website.

Underwriter for both placements is the investment company ÔÇťAzfinance".

Remind that "GL" was established in 2016; it provides short-term loans in exchange for collateral of movable property in Azerbaijan, thereby operating in the secured loans market.

Source: Turan News Agency