Azerbaijani ministry can promote SOCAR's bonds on world capital markets

Oil&Gas Materials 29 September 2010 16:10 (UTC +04:00)

Azerbaijan, Baku, September 29 / Trend N. Ismayilova /

Azerbaijani Ministry of Finance is ready for its first Eurobond issue, Finance Minister Samir Sharifov said.

He did not rule out the possibility of supporting SOCAR as the first Azerbaijani company to enter the world capital market with its own bonds.

"Everything will depend on where the State Oil Company intends to direct funds from the placement of Eurobonds," Sharifov said.

Earlier, SOCAR expressed its willingness to carry out the debut issue of bonds to the amount of $500 million in five equal tranches ($100 million) for up to five years.