SOCAR plans new eurobond emission

Baku. 25 December. REPORT.AZ/ The State Oil Company of Azerbaijan (SOCAR) continues to raise capital in spite of fall in the world oil prices. Report informs, SOCAR vice-president Suleyman Gasimov said in his statement to journalists at press-conference held today.

According to him, SOCAR plans to issue bonds denominated in foreign currency (Eurobonds).

Investors in the market show large interest for SOCAR’s Eurobonds. From our part we have already started preparations for the new issue and sent appropriate information to the banks. We plan to issue Eurobonds with 15 year turnover period, S. Gasimov says.

He says, issue volume has not been specified yet, as the decision on the issue is still to be made.

So far the Company has placed two bond issues: for $5 billion with 5 year turnover period, issue volume has not been specified yet more than 1 billion USD.