Azerbaijani bank intends to launch debut Eurobond
Baku, Azerbaijan, June 17
By Azad Hasanli – Trend:
Pasha Bank, one of the largest banks in Azerbaijan, is considering launching a debut Eurobond worth around $200 million this year, Reuters reported June 17 citing Ivan Uglyanitsa, head of PASHA Bank Georgia’s investment banking department, as saying.
Uglyanitsa said the Eurobond would have a maturity of three to five years.
“Pasha Bank does not need to borrow in a foreign currency, but wants to take advantage of a "window of opportunity" while debt markets are growing and yields are falling,” Uglyanitsa said.
"We started this in winter," he said. "But everything was falling at the time, and they were cautious about the issue."
PASHA Bank Georgia has been operating since February 2013.
PASHA Bank was founded in 2007, and operates under a license of the Central Bank of Azerbaijan No.250 dated Nov. 28, 2007. The main objectives of the bank are to strengthen leadership in the segment of corporate customer service, to achieve high-quality business growth in the priority areas identified by the strategy, as well as the creation and continuous development of long-term and trusting relationships with customers.
PASHA Bank OJSC, along with PASHA Insurance, PASHA Life, PASHA Travel, and PASHA Construction is a member of Pasha Holding, which is actually an investment company, but not a classic holding company. Kapital Bank also includes the structure of the Pasha Group, where the holding owns 99.87 percent of shares.