TBC Kredit, a non-banking Azerbaijani subsidiary of Georgia’s leading bank- TBC Bank – plans to issue bonds in the amount of AZN 3 million, Report informs, citing the securities issue prospectus.

The document was posted in the Electronic Data Disclosure System of the Central Bank of Azerbaijan. According to the emission prospectus, this is about 3,000 interest-bearing, unsecured, undocumented, registered bonds, each with a face value of AZN 1,000.

The securities will be in circulation for two years, with a yield of 12% per annum. The interest rates will be paid once in six months. The process underwriter is Azfinance Investment Company.