SOCAR announces details on Eurobonds

Baku: APA-Economics. State Oil Company of Azerbaijan placed $750 million worth of 15-year Eurobonds.

SOCAR told APA-Economics that the economic development in Azerbaijan, stable economic development indicators, 100% owning of SOCAR by state, current situation of the company, as well as works related to issuance of Eurobonds are interesting for investors from different regions. Taking interests of investors into account, the interest rate of securities made 6.95%.

Geographical division of these Eurobonds are as following:

UK (39%)

USA (41%)

Other regions (2%)

93% of Eurobonds are fund managers, 5% – banks, 2% – scholarship funds.

SOURCE: Azeri Press News Agency