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
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On January 11, Serbian President Aleksandar Vučić announced that Azerbaijan had notified Serbia about the suspension of daily gas supplies amounting to 1.7 million cubic meters due to technical problems at the Shah Deniz field.
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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