SOCAR to place eurobonds in UK
Azerbaijan, Baku, Jan. 30 / Trend E. Ismayilov /
SOCAR eurobonds will be included in a UK listing and on the London Stock Exchange, SOCAR said on Monday. Eurobonds will be placed beyond Azerbaijan and the U.S.
SOCAR has today started talks with investors for the upcoming placement.
The bonds will be placed taking into account market conditions. The conditions will be specified after a series of meetings with investors, which will begin on Jan. 30.
SOCAR plans to issue eurobonds to the amount of $500 million.
According to the information, the issuers are the Royal Bank of Scotland (RBS), Citi Bank, and Deutsche Bank. Nomura International Plc. and Société Générale SA are the managers.
SOCAR includes the Azneft production association, the Azerkimya industrial association and the Azerigaz industrial association.
SOCAR is the only oil product producer in the country and also gas stations in Azerbaijan, Georgia and Ukraine. SOCAR is the co-owner of the Turkish petrochemical complex Petkim. The company carries out oil trading in various regions through SOCAR Trading.