TBC Credit to issue bonds

Baku. 19 October. REPORT.AZ/ TBC Credit non-banking credit institution (NBCI) plans to issue bonds by year-end.

The NBCI Financial Manager Aytan Baghirova told Report.

According to her, the financial institution intends to issue bonds both in Azerbaijani manat and US-dollar: "Perhaps annual yield of AZN bonds will not be less than 15%. Annual interest rate of USD bonds may be 7-8%."

Notably, TBC Credit LLC was established in 1999 and is one of the leading non-banking credit institutions in Azerbaijan. Its authorized capital is 10 mln AZN. Georgian leading TBC Bank with participating share of 75% as well as the US Enclude Holding (former ShoreBank International) of 25% act as founders of the NBCI.