Azerbaijan, Baku / Trend corr I. Khalilova / Azerbaijan's Bank Standard plans to implement the first issue of Eurobonds in the sum of $150-200mln for 3-5 years in March to April, 2008, according to the President of the bank, Salim Kriman, reported on 7 September.
"The issue will be possible only in the spring of the next year, for that requires preparation and huge work. That is necessary to make the market accept such large amounts," he said. For this purpose work of departments will be re-organized in the bank.
For successful placement of the bonds Bank Standard has to receive the second rating. Negotiations in this connection are being held with Fitch Ratings. However, the head of the bank is not sure the rating of the second agency will be issued in 2007. The assessment is most likely to be completed next year.
In 2007, Azerbaijan will experience two bond issues - by Finance Ministry in the name of the state - $300mln in September-October and the International Bank of Azerbaijan - $200mln in November-December.