ASCO announced the objectives of the bond issue

ASCO announced the objectives of the bond issue
 
"Azerbaijan Caspian Sea Shipping" JSC (ASCO) will expand its activities beyond the Caspian Sea with the funds it will attract through the bond issue, and will enter the segment of new type, larger ships (Aframax, Handysize).

Qazet.az reports that it was announced in the presentation of securities.

It should be noted that ASCO is preparing to place its bonds worth 100 million US dollars in "Baku Stock Exchange" CJSC. We are talking about 100,000 bonds with a face value of $1,000 each. Securities will be in circulation for 5 years. Their annual return is 6%. Interest will be paid every 6 months. The underwriter of the placement is "PASHA Capital Investment Company" JSC.