An agreement was recently signed between Baku, Fineko/abc.az Eastland Capital and the Bank of Azerbaijan to organize the sale of bonds to investors from Russia and Northern Europe.
Eastland Capital CJSC will organize the placement of the Azerbaijani bank's bond issue at the European bond market.
Aimed at investors from Russia and Northern Europe, the loan will be listed on the grounds of the NADSAQ OMX exchange. The plan is to place $10 million in Eurobonds for three years.
The finances acquired through the bond issue placement will be used in the development of the card payment system of public transport in Baku.
"Placement of Eurobonds is the first step to the European level of one of the active participants in the banking sector of Azerbaijan, and it obviously will contribute to getting international rating, the transition to Basel 3, as well as attracting foreign investments," Pavel Bilenko, the general director of Eastland Capital, said.
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