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SOCAR started to redeem a 750-million credit of the Central Bank of Azerbaijan

Baku, Fineko/abc.az. State Oil Company of Azerbaijan (SOCAR) has started redemption of credit received form the Central Bank of Azerbaijan a couple of years ago.

Today in Baku SOCAR vice-president Suleyman Gasimov has reported that yesterday the company paid AZN 125 million on this credit.

" The CBA’s direct credit received under Azerbaijani government’s guarantees forms the basis of credit portfolio drawn by the company and equal to $1,5 bn",- S. Gasimov said.

Size of CBA’s loan is AZN 750 million. The funds were drawn to restructure debt on foreign financing accumulated at the time.

 

 


07.06.2011 14:29


   


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