On July 16, 2013 auction of the bonds of International Bank of Azerbaijan (IBA) Moscow started at the Moscow Stock Exchange.
The issue of bonds to the amount of 3 billion rubles was fully placed on June 20, 2013 with 1.5 annual offer and repayment of 3 years. The rate of the first three coupons constituted 10.75%.
The issue has a long-term international rating in the national currency “BB” (stable) from Fitch Ratings. The public irrevocable offer was submitted by the International Bank of Azerbaijan (IBA), mother bank of IBA-Moscow.
IBA-Moscow LLC (general license No 3395 issued by the Russian bank) was established in 2002 as 100% daughter organization of IBA. IBA-Moscow is a universal bank, which is among the Top 150 big Russian credit and financial institutions. By July 1, 2013 assets of IBA-Moscow totaled 30.6 billion rubles, while credit portfolio – 23.3 billion rubles and its own capital – 2.62 billion rubles. The International rating agency Moody’s Investor Service gave the bank a credit rating B3. Moody’s Interfax rating agency gave IBA-Moscow a long-term rating Baa3.ru on the national scale.—0--
Economics
-
Azerbaijan’s Milli Majlis ratified the second amendment to the agreement on the joint development of the Azeri-Chirag-Gunashli (ACG) oil and gas block during its plenary session on Wednesday. The bill was submitted to parliament as a legislative initiative by President Ilham Aliyev.
-
The 104th meeting of the Commonwealth of Independent States (CIS) Economic Council was held in the Russian capital, with representatives from member states discussing enhanced economic collaboration and key regional initiatives. Azerbaijan was represented by First Deputy Prime Minister Yagub Eyyubov.
-
Azerbaijan’s Information and Communication Technologies Agency (IKTA) reported significant improvements in the quality of internet and telecommunications services in the first half of 2024, driven by a comprehensive assessment framework and enhanced regulatory measures.
-
In 2024, Azerbaijan will double its gas supply to Bulgaria, which not only uses this gas for its own needs but also partially sends it to its Balkan Gas Hub and, by agreement with SOCAR, organizes the transit of various volumes to its neighbors.
Leave a review