SOCAR released 10-year Eurobonds
Baku, March 12 (AZERTAC). The State Oil Company of Azerbaijan (SOCAR) continues to set the rate of return (benchmark) for domestic securities in the international market.
SOCAR reports that it has placed on the CEEMEA region’s market the 10-year Eurobonds worth $1 bn. The placement was preceded by the road show conducted in London on 4-5 March. As a result the issue, held under the leadership of Deutsche Bank.
Demand from 245 investors has exceeded the initial proposal by three times and reached $3 bn. At that, 41% of investors were from Europe, 32% from the UK, 25% from the U.S. and 2% from other regions. Up to 87% of the issue was acquired by asset management companies, 5% by banks and retail investors, 4% by hedge funds, 3% by insurance and pension funds, and 1% by other investors.
In February 2012 SOCAR conducted debut placement of 5-year bonds for $500 million.
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