Borrowings under Bonds of AIC to Exceed Expectations

Business Materials 19 December 2006 17:17 (UTC +04:00)

During the meeting in London, investors showed a great interest to bonds of Azerbaijan Investment Company (AIC) JSC, Trend reports.

During the last week visit to London, Samir Sharifov, Azerbaijan Finance Minister held a meeting with foreign investors. As results of the meeting, it became clear that Azerbaijan side may attract more investments under AIC bonds than it had expected, said Heydar Babayev, Azerbaijan Economic Development Minister. According to him, it comes from the credit rating of Azerbaijan which was granted by Moody's.

Earlier it was stated that $400-500 mln. might be attracted to AIC.

The London meeting was organized by City Group, the consultant of the Azerbaijani Government on involving another (second) rating agency. The meeting with foreign investors was held on December 14.