Azerbaijan has no plans to release another batch of Eurobonds this year. Finance Minister Samir Sharifov said it is not necessary at a press conference on Monday.
According to him, in 2014 Eurobonds were issued to assess the possibilities of sovereign debt repayment and access to finance of other issuers.
As you know, on March 12 the State Oil Company (SOCAR) issued Eurobonds worth $ 750 million at the rate of 6.95%. But because of the low attractiveness the planned another $ 250 million bonds were not presented to investors.
But according to the resource Global Capital, investors were not pleased with the high-yield securities of SOCAR in connection with low oil prices and the devaluation of the currency of Azerbaijan.
SOCAR issued the first Eurobonds for $ 500 million at the rate of 5.45% per cent in 2012. The second issue of bonds for $ 1 billion with a rate of 4.75% was in March 2013. -0-
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- Question-answer
- 20 April 2015 20:14
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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