Baku. Agshin Rafigoglu – APA-Economics. State Oil Company of Azerbaijan Republic has started preparations for the next (third) issue of Eurobonds, appealing to international rating agencies for increase of corporate rating, Suleyman Gasimov, SOCAR Vice-President on Economical Issues, told reporters, APA-Economics reports.
“We convinced them that we are able to seriously control the limitations set before us. We have defined for ourselves an effective strategy of Eurobonds placement – early every year and that’s why we will not place them in 2013. At the end of every year we meet the investors and estimate the potential at the market and after that we select investors and define the volume of Eurobonds issue. In 2014 SOCAR is planning to issue bonds with long circulation period – up to 30 years”, - Gasimov said.
Today SOCAR’s rating is equivalent to sovereign rating of Azerbaijan.