Report informs, the bonds supported with a government guarantee. Placement of bonds with a yield of 5.8% per annum, which is lower than the first emission yield, proves a confidence of capital markets in Azerbaijan and "Southern Gas Corridor" CJSC. An additional emission raised total amount of international bonds with a maturity until 2026 up to $2 billion. Thus, this emission is considered to be largest in the country at present.

The bonds of "Southern Gas Corridor" CJSC secured by a government guarantee have aroused a great interest of investors. So, most of the bonds - 45% was purchased by US investors, 40% - United Kingdom, 13% - other European countries, 2% - Asian and Middle East countries. Subscriptions to the bonds exceeded expectations, 90% of applications were submitted by fund managers, which contributed to their diversified distribution among leading institutional investors.

This is the second successful Eurobonds emission by "Southern Gas Corridor" CJSC on international capital markets over past 12 months. Successful issue of international bonds is a clear example of confidence of foreign investors in Azerbaijan's strong economy and development of transport infrastructure for one of the world's largest gas fields.

Acting as an issuer, "Southern Gas Corridor" CJSC, 100% stake of which directly or indirectly owned by Azerbaijan, represents interests of Azerbaijan in the Southern Gas Corridor (SGC) project which is under construction at present and supported by the European Union with length of over 3 500 km to supply natural gas from Azerbaijan to Europe.

Syndicate of banks Citi Bank, UniCredit, JP Morgan is authorized to place bonds placed by the issuer on international financial markets. Lazard Freres SAS acts as a financial adviser to the Azerbaijani side. The law firms Clifford Chance and Omni are advisers to the issuer, White&Case and BM Morrison Partners Ltd. are legal advisers to the leading managers.

More about: #CJSC