Azerbaijan’s State Kapital Bank Prepares for Issuing Eurobonds: Chairman of Executive Board

Business Materials 4 July 2007 16:47 (UTC +04:00)

Azerbaijan, Baku /corr. Trend I.Khalilova / The Chairman of the Executive Board of Azerbaijan's State Kapital Bank, Rauf Rzayev, said on 4 July at the press-conference that the Bank plans to issue Eurobonds in amount of AZN 12 mln by the end of 2007.

He did not exclude the probability to place them in the foreign markets.

"We have already received several proposals from correspondent-banks to act as an underwriter for placing securities in the foreign markets," he said.

According to Rzayev, the interest rates for the Eurobonds will depend on the rating of State and the bank itself. Admittedly the rates may be at the level of LIBOR+3% - LIBOR+3.5%. the Eurobonds will be issued with a period of three years.