MIDA to issue AZN 130 million in bonds – EXCLUSIVE

MIDA LLC, which operates under Azerbaijan's State Agency for Housing Construction, will issue AZN 130 million in bonds.

In response to an inquiry from Report, the agency said the proceeds will be used to ensure the timely implementation of ongoing construction projects.

The issuance comprises 130,000 bonds with a face value of AZN 1,000 each. The securities will be offered through a private placement.

MIDA LLC was established on April 11, 2016, and has a charter capital of AZN 10 million.