Published: March 11, 2013
State-owned oil company plans to raise US$1bn.
OCAR, Azerbaijan's state-owned oil company, has launched a US$1bn eurobond.
The 10-year bond is being launched with a yield of 4.74%. The company expects the paper to be rated BBB- by Fitch and Ba1 by Moody’s.
Deutsche Bank is acting as sole bookrunner on the deal.
SOCAR runs upstream, midstream and downstream operations, most of which are in
Azerbaijan, others of which are in Turkey, Georgia, Romania, Switzerland and Ukraine.