Azerbaijan, Baku / Trend corr . IKhalilova / Azerbaijan Finance Ministry defined legal consultant to issue state bonds in foreign currency. The Ministry has reported that the Britain Arnold LLC company became the winner of the tender. Baker McKenzy , Fresh Fields Bruckhaus , as well as LeBoeuF , lamb greene MacRaE participated at the tender.
Arnold offered to render service for $700 per hour, which in total comprise $190,000 - 250,000. Baker McKenzy has already offered such services from $350,000 to $400,000, including 10% discount, Fresh Fields Bruckhaus - for maximum limit $295,000, LeBoeuF , lamb, greene MacRaE - for $265,000 by drawing local partners.
Finance Ministry is planning to implement the first issue of Euro bonds in September-October 2007. Deutsche Bank AG London and Citigroup Global Markets Limited, the investment banks, will manager the issuing of bonds.
The President's decree on approving execution State budget for 2007 envisages implementation of issues of Euro bonds by AZN 249mln.