Azerbaijani "Pasha Bank" plans to issue Eurobonds after 2015
Baku, Azerbaijan, May 13
By Emin Aliyev - Trend:
Azerbaijani "Pasha Bank" plans to issue Eurobonds after 2015, however the preparation for issuing them will begin a year from now, the bank's Chief Investment Director Taleh Kazimov told Trend.
"The bank doesn't have a purpose to issue Eurobonds. Yes, we do attract syndicated loans from abroad in small quantities, but this is being done also for creating positive history of borrowing, as well as for gaining necessary experience," he explained.
Kazimov added that issuing of Eurobonds is a very responsible step, from the financial point of view as well.
"It makes sense to do it in the amount of not less than 150 million euros. For that we need demand, meaning, the projects for which these funds will be used. The bank wants to do that, however there are some financial indicators, which can suffer from unreasoned decisions. Given the tendency of the bank's development, including from the point of view of regional expansion, the preparation process of issuing Eurobonds can start in 2016-2017," he said.
Pasha Bank is a leading corporate bank in Azerbaijan. Founded in 2007, the bank provides a wide range of corporate banking services including lending, operations in the securities market and asset management and treasury services.
Some 207 people work at the Pasha Bank, represented by the head office and four branch offices. The bank was declared the Best Investment Bank in Azerbaijan by the Europe Banking Awards 2011.
"Pasha Bank" with authorized capital of 333 million manat remains the most capitalized private bank in Azerbaijan.
"Pasha Bank" is part of the PASHA group of companies, a major investment holding company in Azerbaijan, which is well represented in sectors such as insurance, construction, building materials production, tourism and other business areas. Kapital Bank, one of the largest banks in Azerbaijani retail market also belongs to the PASHA group of companies.
Edited by S.I.