Bank Of Baku

SOCAR stops attracting of loans from abroad

SOCAR stops attracting of loans from abroad
# 16 September 2011 10:42 (UTC +04:00)
Baku. Nijat Mustafayev - APA-Economics. SOCAR does not intend to attract new loans in the near future, SOCAR vice president on economic issues Suleyman Gasimov said.

To him, at present, SOCAR is working on reverting loans borrowed so far: “AZN 125 mln from AZN 750 mln loan taken from the government has already been repaid, AZN 70 mln from AZN 100 mln taken from Xalg Bank had been repaid too and it will be completely repaid until year-end. Repayment date of loan borrowed from Deutchebank Is next month, it will be realized in time as well”.

Gasimov said that SOCAR did not intend to attract new loan: “Currently, work is underway on eurobonds”.
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