Azerbaijan Investment Company Plans to Issue Eurobonds

Business Materials 7 December 2006 17:08 (UTC +04:00)

In 2007, Azerbaijan Investment Company (AIC) intends to attract finances, to be able to participate in large-scale projects, the Deputy Executive Director of the Company, Riyad Gasimov informed Trend.

Mr. Gasimov said that finance attraction is expected to be realized at the expense of T-bills issue. Within a couple of years, the Company will issue Eurobonds. We have such an opportunity and after portfolio for the next year is fixed, we will be able to issue bonds, Gasimov said.

He considers that it will be possible to assess the portfolio of the Company in the second half of the next year.

Azerbaijan Investment Company has been created in accordance with the order of the Azerbaijani President dated to March 30, 2006 on support of the investment allocations to develop the non-oil sector and renew the material and technical base of the enterprises functioning in this sphere. The authorized capital of the Company has been announced at the level of AZN 90 mln, which has been formed through the finances of the State Oil Fund of Azerbaijan.