17:29 - 5.10.2023

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October 5, Fineko/abc.az. The terms of circulation and repayment of bonds issued by Aqrarkredit CJSC for the purpose of financing the acquisition and management of distressed assets owned by International Bank of Azerbaijan OJSC may be changed by Aqrarkredit CJSC in agreement with the owners of the bonds and the Ministry of Finance of Azerbaijan.

ABC.AZ reports that this was reflected in the presidential decree signed on October 5 on the amendments to the "volume, terms and conditions of repayment of bonds to be issued by a non-bank credit institution of the closed joint stock company Aqrarkredit on the basis of state guarantees".

Aqrarkredit CJSC is gradually issuing bonds with an upper limit of the total amount up to AZN 10 billion manats in order to finance the acquisition and management of distressed assets owned by the IBA.