The Asian Development Bank plans to issue a bond in Azerbaijan. This was stated by the Bank’s Chairman Pierre Van Peteghem in Baku on May 6 during his meeting with the Chairman of the State Securities Committee, Rufat Aslanli.
According to the ADB, the Bank is closely monitoring the trend of socio-economic development in Azerbaijan and intends to contribute to the development of the securities market through the issuance and placement of bonds in the local market. To implement this initiative, the bank will cooperate with the relevant government agencies.
During the meeting, the sides discussed the participation in investing in securities of ADB from local and foreign investors, including pension funds, insurance companies, and financial institutions.
The scope and timing of the issuance and placement of bonds are not reported.
Note that in 2014, the corporate bond market in Azerbaijan tripled and amounted to about 3.5 billion manat. They are placed in the range of 3-14% per annum. -----08D
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