Azeri Socar to issue eurobonds in June
BAKU – Azerbaijani state energy firm Socar will soon begin issuance of eurobonds, its president, Rovnag Abdullayev, has said.
He said the company will issue such bonds worth around 500 million manats ($633 million) in June, and a number of leading world banks have expressed interest in the securities.
"I would like to openly say that Socar is not issuing eurobonds because of its need for funds, and the company has enough funds available. The issuance of eurobonds is necessary to improve international ratings and assert the company’s image."
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