31-01-2012 12:32:24

Socar to place eurobonds in UK

Azerbaijan’s state energy firm Socar’s eurobonds will be included in the listings of the UK Listing Authority and the London Stock Exchange, the company said on Monday.

Eurobonds will be placed outside Azerbaijan and the U.S.

Socar on Monday started talks with investors for the upcoming placement of the securities.

The eurobonds will be placed taking into account market conditions, which will be specified after a series of meetings with investors.

Socar plans to issue the bonds in the amount of $500 million.

According to the company, Joint Lead Managers for the issuance are Royal Bank of Scotland, Citibank and Deutsche Bank, while Co-Managers are Nomura International Plc. and Societe Generale S.A. Acting as Trustee is Deutsche Trustee Company Limited, and Principal Paying and Transfer Agent is Deutsche Bank AG’s London subsidiary.

TAGS: Azerbaijan, Socar, Eurobonds, UK Listing Authority, London Stock Exchange, Royal Bank of Scotland, Citibank and Deutsche Bank, Co-Managers are Nomura International Plc., Societe Generale S.A.