By Trend

The Baku Stock Exchange (BSE) held an auction for the placement of unsecured paperless bonds of Azerbaijan's 'International' non-bank credit organization (NBCO) in the amount of two million manat ($1.18 million) with a circulation period of 18 months on October 14, Trend reports via BSE.

According to the exchange, during the auction, nine investors submitted nine bids.

The annual rate of the bonds amounted to 13 percent, and the interest payments will be made every 90 days.

The maturity date of the bonds is April 14, 2024.

The placement underwriter is AzFinance Investment Company CJSC.