OREANDA-NEWS. On August 12, 2008 Parex banka successfully closed offer to invest in the bonds of Texnikabank, reported the press-centre of Parex.

The total volume of the issue was 10 million US dollars, with a maturity of 3 years and fixed net interest rate of 12,15%. The minimum investment sum in US dollars was an equivalent of 50 thousand EUR.

Mr.Etibar Aliyev, the Chairman of the Supervising Council of Texnikabank noted: “Texnikabank is very pleased with the results of bond placement and would like to thank the investors for the confidence. The financing will be used to grow the Bank’s loan portfolio and for the support of the SME development and commodities financing areas.”

The successful offer to local and international investors was ensured by the organizer of the issue - Parex banka, the leading investment banking service provider in the Baltic region, thus proving once again its strong position as one of the most professional issuers in the region.

Commenting on the deal, Mr.Martins Jaunarajs, the Senior Vice President of Parex banka said that “Parex banka is satisfied with the results of the issue. The highest interest in bonds was received from institutional investors in Baltic countries. Texnikabank is one of the largest private banks in Azerbaijan with experience in raising funds in international markets by issuing bonds. It is our hope that the results of the issue will be a positive signal to other banks that a long-term capital may successfully be raised on the Baltic bond market.”

About Texnikabank
Tehnikabank is one of Azerbaijan’s private commercial banks founded in 1992, with assets exceeding USD 500 million, loan portfolio above USD 350 million, equity and reserves circa USD 61 million. The target audience of Texnikabank are physical entities, small and medium-sized enterprises – residents of Azerbaijan.

The Bank has 35 branches and 2 bureaus in Baku and other cities across the country, as well as 48 ATM’s. The Bank’s auditor is PriceWaterhouseCoopers. Texnikabank is assigned the following international ratings: Moody's Investors Service – B2, Fitch Ratings – B1.