PASHA Bank became first co-manager of large Eurobond issue among private banks of Azerbaijan
Baku, Fineko/abc.az. PASHA Bank, a leading corporate bank in Azerbaijan, has successfully completed its role as a co-manager for the US$150 million Eurobond issue of Baghlan Group, which recently closed the deal for acquiring a 33.33% stake in Bahar Energy Limited, the developer of Bahar and Qum Deniz offshore deposits. Thus, the Bank has become the first private bank in Azerbaijan to act as a co-manager of a large international debt issue.
BNP Paribas was the lead manager on the transaction. The Eurobond, with the international identification code of XS0780263165, has a 14.75% coupon rate. The repayment term is 3 years, and the interest accrual begins on 27 June.
Since early 2011, when PASHA Bank commenced its arranging services for debt issues, it has invested in four significant issues for a total amount of US$90 million. The issuers represented a variety of industries, including a domestic commercial bank and a telecommunications company.
The Bank plans to continue strengthening its leading positions on the regional securities market, both in supporting issues and developing its secondary market.
Tags: PASHA Bank
Copyright ABC.az All rights reserved.
Link for FINEKO Analytic & Informational Agency and ABC.AZ is obliged using the websites material.
ru / en