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 33 381 104 100
USD 2 1 255 000 000
corporate
AZN 19 426 700 000
USD 14 3 819 573 208

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
CB of Azerbaijan, 0% 29mar2017, AZN (50100853S) - Domestic bonds 0% 50 000 000  AZN 02/22/2017 03/29/2017
Azerbaijan, 0% 2feb2018, AZN - Domestic bonds AZ0102002547 0% 10 000 000  AZN 02/21/2017 08/22/2017
CB of Azerbaijan, 0% 15mar2017, AZN (50100753S) - Domestic bonds 0% 25 291 500  AZN 02/15/2017 03/15/2017
CB of Azerbaijan, 0% 9mar2017, AZN (50100653S) - Domestic bonds 0% 22 759 000  AZN 02/08/2017 03/09/2017
Azerbaijan, 0% 2feb2018, AZN - Domestic bonds AZ0104001547 0% 15 000 000  AZN 02/03/2017 02/02/2018
CB of Azerbaijan, 0% 1mar2017, AZN (50100553S) - Domestic bonds 0% 29 616 000  AZN 02/01/2017 03/01/2017
Azerbaijan Ipoteka Fondu, 3% 6dec2026, AZN (10) - Domestic bonds 3% 10 000 000  AZN 01/27/2017 12/06/2026
Azerbaijan, 0% 27jun2017, AZN - Domestic bonds AZ0102027510 0% 10 000 000  AZN 12/27/2016 06/27/2017
Azerbaijan, 0% 26dec2017, AZN - Domestic bonds AZ0104028516 0% 10 000 000  AZN 12/27/2016 12/26/2017
Azerbaijan, 0% 20jun2017, AZN - Domestic bonds AZ0102025514 0% 15 000 000  AZN 12/20/2016 06/20/2017

World Bond market statistics

Quarterly indices

Type III 2016 II 2016 I 2016 IV 2015 III 2015 II 2015 I 2015
BIS volume of international-bond market of emerging countries
Azeri international bonds, USD bln 5.700 5.700 5.700 4.500 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 0.868

CIS Bond Market statistics

Monthly indices

Type Jan 2017 Dec 2016 Nov 2016 Oct 2016 Sep 2016 Aug 2016 Jul 2016
Bond market (other CIS)
Gov. bonds outst., USD mln (Azerbaijan) 168.10 239.83 172.28 153.24 163.02 155.94 152.80
Corp. bonds outst., USD mln (Azerbaijan) 696.82 710.51 726.76 771.73 782.74 681.45 695.49
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Currencies

Daily indices

Type: 02/28/2017 02/27/2017 02/24/2017 02/23/2017 02/22/2017 02/21/2017 02/20/2017
Exchange rates of Central Banks (CIS)
USD/AZN  1.7475 1.7475 1.7475 1.7447 1.7447 1.7352 1.7352
EUR/AZN  1.8505 1.8466 1.8490 1.8426 1.8399 1.8361 1.8425
RUR/AZN  0.0302 0.0301 0.0303 0.0301 0.0304 0.0300 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 Jan 2017 Dec 2016 Nov 2016 Oct 2016 Sep 2016 Aug 2016 Jul 2016
Macroeconomic indicators (CIS)
Monthly Inflation, % (Azerbaijan)  2.30 3.00 1.70 1.30 2.30 0.50 -0.30
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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 02/27/2017 ***.** *.** 02/27/2017 *** *.**
International Bank of Azerbaijan, 5.625% 11jun2019, USD   USD 06/11/2019 02/27/2017 ***.** *.** 02/27/2017 ***.* *.**
International Bank of Azerbaijan, 8.40% 10may2017, USD   USD 05/10/2017 02/27/2017 **.** *.** 02/27/2017 **.** *.**
SOCAR, 4.750% 13mar2023, USD   USD 03/13/2023 02/27/2017 **.* *.* 02/27/2017 **.*** *.**
SOCAR, 6.95% 18mar2030, USD   USD 03/18/2030 02/27/2017 ***.** *.** 02/27/2017 ***.* *.*
Southern Gas Corridor, 6.875% 24mar2026, USD   USD 03/24/2026 02/27/2017 ***.* *.* 02/27/2017 ***.** *.**
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