The Government of Azerbaijan is receiving proposals from the international institutes and foreign banks on delivery of consultative services in the issue of sovereign euro-bonds. The Azerbaijani Ministry toldTrendthat some of them even restores talks knowing about Azerbaijan's plans on debut issue of euro-bonds in 2007.
In this reset it is planned to establish a special commission and after the preparations the commission will announce a tender to select a consultant among proposals available for Azerbaijan.
Deutsche Bank, the International Rating Agency of Fitch Ratings, City Group, the country's consultant on attraction of the second rating agency offers their assistance in this direction as well.
The Government was be advised to render assistance in issuing of Eurobonds of some 20 banks, including such banks like Commerz Bank, BNP Paribas, etc.
The agreement signed with City Group, the consultant of the country on attraction of the second rating agency, pointed out that in case of the Eurobonds issue, just City Group will be proposed..
That will actually depend on how much the financial terms of City Group will be better. At the same time, at present a number of proposals from those who want to render their assistance to our country in its Eurobond issuing, pointed out the Finance Minister.
The 2007 public budget envisages issues of euro bonds for $300mln within the limitation for foreign borrowing.