Silk Way West Airlines bonds released
Silk Way West Airlines, the largest airline in the Caspian region, has announced its first-ever bond issuance. Given that the company's main operations and revenues are in foreign currency, as well as the potential impact of the coronavirus pandemic on future indicators, it was decided to issue the bonds in US dollars.
Silk Way West Airlines bonds will yield 5% interest per year over three years, with the proceeds used for fleet renewal. The underwriter of the USD 1,000 bond is Pasha Capital, a major investment company listed on the Baku Stock Exchange.
"All proceeds from the placement of the USD 50 million in bonds will be used to upgrade the Silk Way West Airlines fleet," said Mir Samad Movsum-zadeh, member of the supervisory board of Silk Way West Airlines. (cj)