Pasha bank completes significant Eurobond deal

PASHA Bank, a leading corporate bank in Azerbaijan, has successfully completed its role as a co-manager for the $150 million Eurobond issue of Baghlan Group, which recently closed the deal for acquiring a 33.33 percent stake in Bahar Energy Limited, the developer of Bahar and Qum Deniz offshore deposits, the bank said today.

By participating in the transaction, the Bank has become the first private bank in Azerbaijan to act as a co-manager of a large international debt issue, the message said.

BNP Paribas was the lead manager on the transaction. The Eurobond, with the international identification code of XS0780263165, has a 14.75 percent coupon rate. The repayment term is 3 years, and the interest accrual begins on June 27.

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 $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, the message said.


/Trend/