Azerbaijan, Baku / Trend corr I. Khalilova/ The International Bank of Azerbaijan (IBA) have announced the plans to allocate Eurobonds by the end of 2007. The deputy president of the IBA, Emil Mustafayev , reported on the 12th of June that the minimal amount of the first allocation will make up $200mln.
A tender on attraction of bookrunners has been held for the announcing of the allocation and placing of Eurobonds of the bank, where large well-known foreign companies and banks took part. The IBA has already selected two bookrunners ; however their names have not been released. The terms for emission of Eurobonds will be fixed in September-October, 2007.
The emission is expected to take place after the first allocation of Eurobonds by the Azerbaijani Finance Ministry (some $300) on the behalf of the Government.