On 27 August, the State Committee for Securities registered the issue of debentures of interest of Mercury Investment and Holdings Ltd, which are planned to be floated by the closed method. The total size of the issue is $ 200 million.
SSC told Turan Mercury Investment and Holdings Ltd is a legal entity of the Isle of Man. Repayment of the bonds is provided for by 2027. However, the SSC did not specify under which project it is planned to invest the borrowed funds.
Turan found that Mercury Investment and Holdings Ltd was established in 2005. It is noteworthy that the largest in Azerbaijan and the South Caucasus steel plant LLC Baku Steel Company is registered on the Isle of Man. BSC has recently announced plans to build a new steel complex with a capacity of 1 million tons in Hovsan, Baku. The Mercury Investment and Holdings Ltd bond issue is probably related to the project.
Note that on July 27 SSC registered the issue of corporate bonds by Baku Shipyard, which totaled $ 310 million. - 08B-
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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