SOCAR issues $1 mln-Eurobonds

SOCAR issues $1 mln-Eurobonds
# 10 March 2015 12:45 (UTC +04:00)

Baku - APA-Economics. State Oil Company of the Azerbaijan Republic (SOCAR) is planning to issue $1 billion in Eurobonds, Moody's Investors Service said in a statement, Interfax reported.

The agency rated the planned issue at (P) Ba1 with stable outlook.

According to the statement, SOCAR intends to use the money from the Eurobonds for general corporate purposes, including refinancing existing debt and financing the company's production and refining operations.

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