SOCAR to issue 500 million USD of Eurobonds
Baku, January 31 (AZERTAC). Azerbaijan’s state-owned company
SOCAR’s Eurobonds will be included in a UK listing and on the London
Stock Exchange, the company said in a statement.
Eurobonds will be placed beyond Azerbaijan and the United States, the
statement says.
SOCAR hired Citigroup Inc., Deutsche Bank AG (DBK) and the Royal Bank
of Scotland Plc to sell 500 million USD in Eurobonds.
Nomura International Plc and Societe Generale (GLE) SA will also help
manage the sale.
SOCAR is in the final stages of issuing the bonds, the company’s
President Rovnag Abdullayev said January 28 in an interview in Davos,
Switzerland, where he was attending the World Economic Forum. He named
Citigroup among the “major” banks working on the sale.
“We will be active in the capital markets,” Abdullayev said . SOCAR is
planning new projects for this year, he added, without elaborating.
State Oil Company of the Azerbaijan Republic SOCAR includes the Azneft
production association, Azerkimya and Azerigaz industrial
associations. The company carries out oil trading in various regions
through SOCAR Trading.
