Today.Az » Business » SOCAR to issue $500 million of Eurobonds
31 January 2012 [11:35] - Today.Az


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.


/AzerTAc/


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