Azerbaijan, Baku / Trend corr U. Ismayilova / Eurobonds of the International Bank of Azerbaijan (IBA) will be more expensive than sovereign Eurobonds of the Azerbaijani Finance Ministry by 0.5-0.8%, the Deputy president of the IBA, Vagif Alakbarov, said on 19 June at a briefing dedicated to the placement of Eurobonds of the IBA.
According to Akbarov, the bonds will be placed at the London and Luxemburg Stock Exchanges.
Eurobonds of the IBA will be issued in the format of Reg S for American companies. The term of the bonds is 3-5 years. The supposed period of issuance is the beginning of November.
Akbarov noted that the attracted funds would be used for financing priority projects related to different economic sectors of the country, mainly non-oil.
The text of the mandate letter is under coordination by the lead-managers of the IBA. Later, international and local lawyers will be appointed.