SOCAR debut eurobonds placed under 5.45% with 8-fold excess of demand over supply
Baku, Fineko/abc.az. The State Oil Company of Azerbaijan (SOCAR) placed yesterday with success the debut issue of its own bonds at foreign markets (eurobonds).
The deal participants say that the demand for SOCAR eurobonds exceeded $4 billion with an annual rate of 5.45%, which is 8 fold more than the volume of the issue ($500 million).
As a result, the bonds (ISIN XS0744126961) of the Azerbaijan’s leading company were placed for $500 million with an annual rate of 5.45% for the period until 9 February 2017.
The SOCAR bonds were issued in accord with the USA law from 1933 in Regulation S part. They passed UK Listing Authority registration and placed in the London Stock Exchange.
The issue preparation was carried out by (Joint Lead Managers) Citi Group Global Markets Limited, London office of Deutsche Bank AG and The Royal Bank of Scotland Plc. Nomura International Plc. and Société Générale S.A acted as Co-Managers.
The trustee is Deutsche Trustee Company Limited, Principal Paying and Transfer Agent is London office of Deutsche Bank AG.