31/05/2013The latest Unibank bond issue, registered under the ISIN-code AZ2009002026, was successfully placed on the Baku Stock Exchange (BSE) on 29 May. 5,000 bonds were issued with a par value of AZN 1,000 per bond, meaning that the total issue amounted to AZN 5 million. The coupon rate over a five-year period is 14% based on quarterly payments. Unicapital, the broker company, and PASHA Bank, placed these bonds. PASHA Bank acted as underwriter and distributor through the broker company, Unicapital, and will perform its market maker obligations through PASHA Capital Broker Company. This bond placement can be easily regarded as the first successful placement of five-year junior bonds on the local securities market.
PASHA Bank will quote these bonds daily, thus maintaining their liquidity and making them even more attractive for potential investors. All quotes of the bonds where PASHA Bank acts as market maker can be monitored via Bloomberg and Reuters terminals, as well as on the BSE website.
According to Taleh Kazimov, Member of the Executive Board of PASHA Bank and Chief Investment Officer (CIO), this is already the second issue of Unibank bonds that the Bank has arranged. "In total, this is the fifth bonds issue for the Unibank group companies, which demonstrates high investor confidence in their credit risk. These dynamics demonstrate the growing attractiveness of the securities market, and will undoubtedly help with the development of the local securities market. The trust that we have built up has led to PASHA Bank becoming one of the major players in the bond market," concluded T. Kazimov.
Over the past two years, PASHA Bank has already issued 10 corporate bonds (in various sectors, including bank and telecommunications) for approximately AZN 102.4 million. The results of PASHA Bank's investment activity have been highly acclaimed by the investment community. Such accolades include being named as the "Best Investment Bank of Azerbaijan" by the international financial journal, EMEA Finance, in both 2011 and 2012.