Azerbaijan, Baku, Feb.27 /Trend A.Akhundov/
Azerbaijani Texnika Bank has temporized in the issue of next Eurobond placement due to the unstable situation on world capital markets, Chairman of the Board Samir Huseynov told Trend.
"Work on the study of the possibility of Eurobonds placing is being implemented, it all depends on the capital markets," Huseynov said.
Huseynov said capital markets are quite volatile and unacceptable for placement at the moment.
"Everything is possible, but it's better to wait" Huseynov said.
The bank has registered a Texnika Finance BV company in the Netherlands in order to place the first issue of unsecured Eurobonds. Texnika Bank was able to secure credit in the amount of $26 million at an interest rate of 12.75 percent and maturing in 2009.
In 2011 Fitch Ratings international rating agency has assigned the expected long-term rating "B-(exp)" and an expected Recovery Rating "RR4" to the forthcoming [second] bond issue of Texnika Finance BV.
Texnika Bank has been operating in the country since 1993 and has been a 100-percent Azerbaijani bank till 2007. Currently, the bank's main shareholder is World Wines that holds 75 percent of its shares. Chairman of the Bank's Observation Board Etibar Aliyev and U.S. Kazimir Investment Caspian Fund hold 15 percent and 10 percent of the shares, respectively.