"ASCO debentures" release ceremony was held
The event on the occasion of the emission of "ASCO debentures" by Azerbaijan Caspian Shipping CJSC (ASCO) was held.
Ruslan Alikhanov, Chief Executive Officer of Azerbaijan Investment Holding, heads of banking and insurance companies, seafarers, and media representatives attended the event.
Initially, a short video describing rich history and multi-faceted activities of ASCO was demonstrated. Later, commercial video on "ASCO Debentures" was presented.
Making his speech at the ceremony, ASCO Chairman Rauf Valiyev stated that the proceeds to be obtained from the debentures will be used for expanding the activities outside the Caspian basin and for the acquisition of modern type larger vessels to ensure cargo transportation in the international waters by ASCO as the oldest company currently operating in Azerbaijan and making profit each year. Moreover, the debentures we have emitted will contribute to the development of the country's security market and provide profitable and reliable investment opportunities for citizens.
Ruslan Alikhanov, CEO of Azerbaijan Investment Holding, drew attention to the transparent and competitive activity of ASCO in his speech: "ASCO is one of the companies operating successfully in our country. Newly issued debentures will provide additional funds for the development of the company."
The video-guide, reflecting information on the terms of debentures, was demonstrated after the speech made by participants.
It is worth noting that the nominal value of each debenture is USD 1,000 and the annual interest rate is 6 per cent.
The issued 100,000 debentures can be either obtained by individuals or legal entities.
The interest rate amounts will be paid to debenture holders per six months, twice a year.
The debentures can be obtained from both primary or secondary markets. To purchase ASCO debentures from the primary market, investors shall apply and subscribe to PASHA Capital Investment which is the underwriter of the bonds. The subscription period is 60 days.
ASCO debentures promise their holders income security for five years as a highly profitable financial instrument in US dollars.
Details on the recently issued debentures can be found by visiting the www.ascoistiqraz.az website or by calling 1548.