BAKU, Azerbaijan, October 15.
SOCAR bonds make up about 25% of the total volume of corporate bond
issues in Azerbaijan, Executive Director of the Central Bank of
Azerbaijan (CBA), Tarlan Rasulov, said at a press conference
dedicated to the presentation of the Financial Stability Report in
Baku on Thursday, Trend's correspondent reports from the event.
He noted that the total volume of corporate bond issues in
Azerbaijan amounted to around 2 billion manat ($1.17 billion). Of
this, 400 million manat ($235.3 million) accounted for SOCAR
bonds.
"Overall, the corporate bond market is worth around 2 billion
manat ($1.17 billion). Roughly 400 million manat ($235.3 million)
of this consists of SOCAR bonds. In other words, this accounts for
nearly 25% of the total," Rasulov explained.
According to exective director, the expiration of SOCAR bonds
could lead to a decrease in their volume on the market.
He emphasized that changes in the corporate bond market are also
influenced by the volume of government securities and the maturity
of individual bond issues.
Speaking about the decline in banks' borrowing volumes, Rasulov
pointed out that this process was related to current market
conditions and banks' borrowing strategies.
"There is nothing unusual about this. A decline in banks'
borrowing volumes is a natural development in terms of their
overall strategies and changes in the market," he added.
