AccessBank realized the issue of special bonds
AccessBank, which celebrates its 20th anniversary this year, has issued inaugural theme bonds for development of agro sector in the country.
An “Opening call” of the first issue of “Agro Development Bonds” of AccessBank took place on 29th November. Bonds in the amount of USD 5M with 18 months term, coupon rate of 5.5% per annum have been issued and fully placed.
Deputy Chairman of the Management Board, AccessBank’s Chief Financial Officer Ramin Huseynov participated in the “Opening call” event and noted that the issue of the bonds in foreign currency and targeted financing are a significant event for AccessBank that is back to capital market after some break. He emphasized the role of AccessBank as an innovator and flagman for the recent 20 years of its activity in financing businesses and especially in supporting of micropreneurs.
Moreover, Mr. Huseynov added that the bond proceeds will contribute towards the country’s food security by funding micro and small entrepreneurs that are within the agro sector: “This issue will also diversify the funding base of our bank, which is in line with our longer-term strategy. I would also like to thank ABB-Invest and UniCapital, who acted as lead managers for their fruitful cooperation.”
As per the further plans on bond issue, Ramin Huseynov claimed that the increase of issue will be considered in view of the demand on bonds, especially the interest of private and institutional investors in alternative investment tools.
Being a leader in the sphere of microfinancing, “AccessBank” has been providing services for the small and medium-sized enterprises since 2002. Bank’s shareholders include such international organizations and structures as Asian Development Bank, European Investment Bank, International Finance Corporation. Bank has 30 branch offices, 15 of which are located in Baku, and 15 – in regions.
To get more detailed information about the services provided by the Bank, call 151 or get in the web-site (www.accessbank.az) or follow the Bank’s social network accounts (Facebook, Instagram, LinkedIn).
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