The Finance Ministry sent in response to APA-ECONOMICS that the issue of these securities in the indicative parameters play the role of a benchmark for other issuers, and is the main criterion for determining the price of borrowing and the formation of the yield curve.
The Ministry of Finance said that the international rating agencies Moody's, Standard & Poor's and Fitch Ratings assigned Azerbaijan an investment grade rating. In addition, public debt management agency under the Ministry of Finance analyzes the situation in the international financial markets, meets with international banks specializing in the issue of Eurobonds.
"Against the backdrop of the financial crisis on the global financial market decline could be observed in yield on debt instruments. However, recent analyzes show a trend of growth and profitability, given this, the government is seriously considering issuing Eurobonds in the amount of 500 million - 1 billion euros, this year or next year,. "
Taking into account the low level of public debt of Azerbaijan, large foreign exchange reserves and a strong financial position of the country, the Finance Ministry expects strong demand for Eurobonds. The funds to be received from the issue may be used to finance the costs provided by the state budget, or any projects.
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