Azerbaijan: bonds

Azerbaijan is a transcontinental country in the Caucasus region, situated at the crossroads of Eastern Europe and Western Asia.

Azerbaijan has the largest agricultural basin in the region. Two-thirds of Azerbaijan is rich in oil and natural gas.

Azerbaijan's high economic growth has been attributable to large and growing oil and gas exports, but some non-export sectors also featured double-digit growth, including construction, banking, and real estate. Oil exports through the Baku-Tbilisi-Ceyhan Pipeline, the Baku-Novorossiysk, and the Baku-Supsa pipelines remain the main economic driver, but efforts to boost Azerbaijan's gas production are underway. Long-term prospects depend on world oil prices, Azerbaijan's ability to negotiate export routes for its growing gas production, and its ability to use its energy wealth to promote growth and spur employment in non-energy sectors of the economy.

The manat (AZN) is the currency of Azerbaijan.

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
AZN 36 517 364 800
USD 2 1 255 000 000
corporate
AZN 22 476 300 000
USD 14 4 969 573 208

News and comments

Sovereign rating

Rating AgencyRatingRating scaleDate
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
Moody's Investors Service *** LT- foreign currency ***
Moody's Investors Service *** LT- local currency ***
S&P Global Ratings *** Foreign Currency LT ***
S&P Global Ratings *** Local Currency LT ***
Fitch Ratings *** LT Int. Scale (foreign curr.) ***
Fitch Ratings *** LT Int. Scale (local curr.) ***
Rating Agency RAEX (Expert RA) *** Foriegn curr. scale ***
Rating Agency RAEX (Expert RA) *** Local curr. scale ***
National Rating Agency *** Global scale ***
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Latest bond issues

issue ISIN coupon volume end of placement maturity date
Azerbaijan Ipoteka Fondu, 3% 18dec2037, AZN (14) - Domestic bonds AZ2016008685 3% 15 000 000  AZN 05/25/2017 12/18/2037
CB of Azerbaijan, 0% 21jun2017, AZN (50101156S) - Domestic bonds 0% 25 000 000  AZN 05/24/2017 06/21/2017
Azerbaijan, 0% 21may2019, AZN - Domestic bonds AZ0105004557 0% 3 000 000  AZN 05/23/2017 05/21/2019
CB of Azerbaijan, 0% 14jun2017, AZN (50101056S) - Domestic bonds 0% 25 000 000  AZN 05/17/2017 06/14/2017
Azerbaijan, 0% 15aug2018, AZN - Domestic bonds AZ0102010540 0% 10 000 000  AZN 05/16/2017 08/15/2018
CB of Azerbaijan, 0% 7jun2017, AZN (50100956S) - Domestic bonds 0% 25 000 000  AZN 05/10/2017 06/07/2017
Azerbaijan Ipoteka Fondu, 3% 18dec2037, AZN (13) - Domestic bonds AZ2015008686 3% 10 000 000  AZN 05/04/2017 12/18/2037
CB of Azerbaijan, 0% 31may2017, AZN (50100856S) - Domestic bonds 0% 25 000 000  AZN 05/03/2017 05/31/2017
Azerbaijan, 0% 5jan2018, AZN - Domestic bonds AZ0104009540 0% 25 000 000  AZN 05/02/2017 01/05/2018
Azerbaijan, 0% 24apr2018, AZN - Domestic bonds AZ0104008542 0% 37 599 700  AZN 04/25/2017 04/24/2018

World Bond market statistics

Quarterly indices

Type IV 2016 III 2016 II 2016 I 2016 IV 2015 III 2015 II 2015
BIS volume of international-bond market of emerging countries
Azeri international bonds, USD bln 5.700 5.700 5.700 5.700 4.500 4.500 4.500
BIS net issues of international-bond market of emerging countries
International-bond net issue of Azerbaijan, USD bln   0.000 0.000 1.300 -0.100 0.000 0.000

CIS Bond Market statistics

Monthly indices

Type Apr 2017 Mar 2017 Feb 2017 Jan 2017 Dec 2016 Nov 2016 Oct 2016
Bond market (other CIS)
Gov. bonds outst., USD mln (Azerbaijan) 260.64 200.70 201.50 168.10 239.83 172.28 153.24
Corp. bonds outst., USD mln (Azerbaijan) 734.65 716.79 713.75 696.82 710.51 726.76 771.73
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Currencies

Daily indices

Type: 05/26/2017 05/25/2017 05/24/2017 05/23/2017 05/22/2017 05/19/2017 05/18/2017
Exchange rates of Central Banks (CIS)
USD/AZN  1.7020 1.7021 1.7021 1.7023 1.7023 1.7023 1.7022
EUR/AZN  1.9062 1.9133 1.9029 1.9152 1.9047 1.8916 1.8971
RUR/AZN  0.0300 0.0302 0.0302 0.0301 0.0300 0.0296 0.0297
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Money market

Periodic indices

Type: Current value Change Last update
CIS Central Banks Rates
CB of Azerbaijan refinancing rate, % 15.00 6 14.09.2016

Macroeconomic Indicators (CIS)

Monthly indices

Type Apr 2017 Mar 2017 Feb 2017 Jan 2017 Dec 2016 Nov 2016 Oct 2016
Macroeconomic indicators (CIS)
Monthly Inflation, % (Azerbaijan)  0.20 1.60 1.60 2.30 3.00 1.70 1.30
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Macroeconomic Indicators (World economy)

Monthly indices

Type Apr 2017 Mar 2017 Feb 2017 Jan 2017
Inflation Rate (World), % to the same period of the previous year
Inflation Rate (Azerbaijan) 13.50 13.20 12.50 11.90
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Yearly indices

Type 2015 2014
Government Debt to GDP (World), %
Government Debt to GDP(Azerbaijan) 28.30 11.20

Bonds prices

issue volume maturity date bid prices ask prices
date bid price yield date ask price yield
Azerbaijan, 4.75% 18mar2024, USD   USD 03/18/2024 05/26/2017 ***.** *.** 05/26/2017 ***.** *.**
International Bank of Azerbaijan, 5.625% 11jun2019, USD   USD 06/11/2019 05/26/2017 **.** **.** 05/26/2017 **.** **.**
SOCAR, 4.750% 13mar2023, USD   USD 03/13/2023 05/26/2017 **.** *.** 05/26/2017 ** *.**
SOCAR, 6.95% 18mar2030, USD   USD 03/18/2030 05/26/2017 ***.** *.** 05/26/2017 ***.** *.**
Southern Gas Corridor, 6.875% 24mar2026, USD   USD 03/24/2026 05/26/2017 ***.** *.** 05/26/2017 ***.** *.**
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