Azerbaijan’s Pasha Bank Board Chairman Farid Akhundov said that Pasha Bank is interested in participating in SOCAR’s issuance of securities in the local market.
“It would be interesting for the bank, with its goals for the development of the securities market in Azerbaijan to take part in this matter,” he said, adding “We hope that we will know the parameters of the deal soon. We are ready to offer services aimed at placing SOCAR securities on the local market.”
SOCAR head Rovnag Abdullayev voiced plans to issue SOCAR corporate bonds worth about 500 million Manat to be placed on the Azerbaijani securities market next year.
He said that bonds are planned to be issued for five years. The funds from the placement will be used to develop perspective structures and the “Umid” gas condensate field.
Everybody, including citizens of the country, will be able to buy SOCAR’s planned corporate bonds.
