Petkim to hold meetings with foreign investors for Eurobonds issue

Baku. 12 January. REPORT.AZ/ Starting from January 15, shareholders of the Petkim Holding, owned by the State Oil Company of Azerbaijan Republic (SOCAR), will hold a meeting with potential investors in the UK and the United States for placement of Eurobonds up to $ 500 mln in the Ireland stock market.

Report informs, Petkim has released information on the Turkey’s Public Disclosure Platform (KAP).

According to information, Goldman Sachs and JP Morgan were authorized for the Petkim’s Eurobonds issue.

Notably, on October 27, 2017, Petkim Holding has declared about the planning of bond issue up to $ 500 mln in accordance with decision of the Management Board in order to get share in STAR oil refinery, which is under construction in Aliağa (Izmir). In late December 2017, the Capital Markets Board of Turkey responded positively to the appeal on issue of Eurobonds made by Petkim Holding.

Notably, after privatization process completed in 2008, the SOCAR became main shareholder of Petkim. Currently, SOCAR owns 51% of Petkim Holding shares. The rest of Petkim stakes is in circulation at Istanbul Stock Exchange.

Petkim is the first and only petroleum chemical complex in Turkey and the biggest exporter of Aegean region.