Azerbaijan sells bonds in the US market to fund Socar Polymers

​SOCAR has offered 41% of euro bonds issued in March 2015 for $750 mln for 15 years in the US market.

The UK investors are behind the US investors – 39%. The stake of other European countries is 18%, other regions – 2%.

The managing funds purchased 93% of the total emission, banks – 5%, pension funds -2%.

In March 2013 SOCAR offered euro bonds for $1 bln at 4.75% per annum for 10 years.

In December 2014 SOCAR and Gazprombank signed an agreement on the issue of a $420 mln loan for the construction of a plant “SOCAR-Polimer” in Azerbaijan.

“This loan issued for 10 years and without any securities is a sign of the trust in Azerbaijan and the head of the country’s oil and gas sector - SOCAR”, chairman of Gazprombank, A. Akimov, said.

Moreover, the bank opened a credit limit of $2 bln for SOCAR.