Fixed Income. Azerbaijan Sovereigns - The Region's Underdog
International Bank of Azerbaijan will settle the restructuring of its foreign currency-denominated debt into new IBA and sovereign bonds today. The Finance Ministry is also likely to issue two new Eurobonds. We expect a $0.5 bln 12y note and a $0.8 bln 15y paper. We expect robust investor interest in the new papers due to the strong market backdrop, their limited immediate supply and their scarcity for index-oriented investors. These factors will also likely spur strong demand for the outstanding Azerbaijan 24 and Southern Gas Corridor 26.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
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