OREANDA-NEWS. On August 11, 2008 The Azerbaijan cotton processor MKT Istehsalat – Kommersiya has settled in full of its bonds in line with the terms of issue.

The total volume of the issue was 5 million US dollars, with a maturity of 2 years and a fixed interest rate of 14.4%, reported the press-centre of Parex banka.

The successful offer to local and international investors was ensured by Parex banka, the leading investment banking service provider and one of the most professional issuers in the Baltic region.

Mr. Ikram Kerimli, the General Director of MKT IK noted, that this has been the first issue of long-term securities for the company, and expressed a hope, that a timely settlement of financial terms with the international investors has laid stable grounds for the credibility of the company in the future.

Commenting on the news, Mr.Martins Jaunarajs, Senior Vice President, Capital Markets and Investment Banking, Parex banka stated: “The Bank and the clients are very pleased with the co-operation with MKT IK. This case is unique as MKT IK is the first enterprise from Azerbaijan that has raised funds by issuing cross-border bonds. For Parex banka this was the first deal of issuing bonds in Azerbaijan.”