Bank Of Baku

SOCAR to borrow new loan

SOCAR to borrow new loan
# 20 September 2010 11:58 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. State Oil Company of Azerbaijan intends to borrow $ 200 mln loan from foreign financial organizations, SOCAR vice-president Suleyman Gasimov informed.

According to him SOCAR borrowed $ 350 mln loan from BNP Pribas, YapiKredi Bank and other financial organizations to pay off AZN 800 domestic deficit. “Presenntly, negotiation are conducted with Societe Generale and ING Bank and the borrowed loan will be reached $ 550 mln by the end of the year.”

He also noted that SOCAR will borrow $ 90 mln loan to purchase equipment for Azerkimya PU.
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