On July 26, 2019 at the meeting of the Listing Committee of the Baku Stock Exchange (BSE), Black Sea Trade and Development Bank’s bonds were listed in the premium segment of BSE. 10,000 bonds of the Black Sea Trade and Development Bank with the face value of 1000 manats will be publicly offered on the BSE trading platform.
Interest payments of two-years bonds (730 days) with 9.25% coupon rate will be paid on a quarterly bases. The amendments to the Securities Market law were prepared by the Financial Markets Supervisory Authority for the issuance of bonds of international financial institutions, and these amendments came into force on February 1, 2019. At the same time the BSE Listing Regulations were simplified to stimulate the issue of securities by international organisations to which the Republic of Azerbaijan is a party.
As a result of these changes, for the first time, one of the most reputable banks of the world, the Black Sea Trade and Development Bank, will issue securities in the local currency in the Azerbaijan capital markIt should be noted that the long-term credit rating of the Black Sea Trade and Development Bank for 2019 was defined by Standard and Poor’s and Moody’s – as “A-” and “A2”, respectively.