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 37 1 064 918 000
USD 8 3 347 376 000
corporate
AZN 25 546 300 000
USD 12 5 218 993 208

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) *** Foreign 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% 18oct2017, AZN (50100261S) - Domestic bonds 0% 100 000 000  AZN 09/20/2017 10/18/2017
Azerbaijan, 0% 18sep2018, AZN - Domestic bonds AZ0104024549 0% 15 000 000  AZN 09/19/2017 09/18/2018
CB of Azerbaijan, 0% 11oct2017, AZN (50100161S) - Domestic bonds 0% 150 000 000  AZN 09/13/2017 10/11/2017
Azerbaijan, 0% 13mar2018, AZN - Domestic bonds AZ0102023543 0% 20 000 000  AZN 09/12/2017 03/13/2018
Azerbaijan Ipoteka Fondu, 3% 7jun2035, AZN (18) - Domestic bonds AZ2020008689 3% 25 000 000  AZN 09/08/2017 06/07/2035
CB of Azerbaijan, 0% 4oct2017, AZN (50100260S) - Domestic bonds 0% 150 000 000  AZN 09/06/2017 10/04/2017
Azerbaijan, 0% 4sep2018, AZN - Domestic bonds AZ0104022543 0% 10 000 000  AZN 09/05/2017 09/04/2018
Azerbaijan, 0% 6mar2018, AZN - Domestic bonds AZ0102021547 0% 15 000 000  AZN 09/05/2017 03/06/2018
Azerbaijan, 5.125% 1sep2029, USD - International bonds XS1678623064 5.125% 310 718 000  USD 09/01/2017 09/01/2029
Azerbaijan, 0.85% 1dec2017, USD (ECP) - International bonds XS1678611218 0.85% 184 508 000  USD 09/01/2017 12/01/2017

World Bond market statistics

Quarterly indices

Type I 2017 IV 2016 III 2016 II 2016 I 2016 IV 2015 III 2015
BIS volume of international-bond market of emerging countries
Azeri international bonds, USD bln 6.200 5.700 5.700 5.700 5.700 4.500 4.500
BIS net issues of international-bond market of emerging countries
International-bond net issue of Azerbaijan, USD bln 0.500   0.000 0.000 1.300 -0.100 0.000

CIS Bond Market statistics

Monthly indices

Type Aug 2017 Jul 2017 Jun 2017 May 2017 Apr 2017 Mar 2017 Feb 2017
Bond market (other CIS)
Gov. bonds outst., USD mln (Azerbaijan) 621.34 534.52 371.70 282.48 260.64 200.70 201.50
Corp. bonds outst., USD mln (Azerbaijan) 775.46 776.06 764.09 749.42 734.65 716.79 713.75
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Currencies

Daily indices

Type: 09/22/2017 09/21/2017 09/20/2017 09/19/2017 09/18/2017 09/15/2017 09/14/2017
Exchange rates of Central Banks (CIS)
USD/AZN  1.7008 1.7007 1.7007 1.7007 1.7007 1.7007 1.7008
EUR/AZN  2.0342 2.0209 2.0421 2.0368 2.0309 2.0260 2.0205
RUB/AZN  0.0294 0.0292 0.0293 0.0293 0.0295 0.0296 0.0294
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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 0 22.06.2017

Macroeconomic Indicators (CIS)

Monthly indices

Type Jul 2017 Jun 2017 May 2017 Apr 2017 Mar 2017 Feb 2017 Jan 2017
Indicators of inflation (CIS)
Monthly Inflation, % (Azerbaijan)  0.10 -1.00 0.20 0.20 1.60 1.60 2.30
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Macroeconomic Indicators (World economy)

Monthly indices

Type Aug 2017 Jul 2017 Jun 2017 May 2017 Apr 2017 Mar 2017 Feb 2017
Inflation Rate (World), % to the same period of the previous year
Inflation Rate (Azerbaijan) 14.00 14.00 13.90 13.80 13.50 13.20 12.50
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Yearly indices

Type 2016 2015 2014
Government Debt to GDP (World), %
Government Debt to GDP(Azerbaijan) 37.70 28.30 11.20

Bonds prices

issue volume maturity date bid prices ask prices
date bid price yield date ask price yield
Azerbaijan, 3.5% 1sep2032, USD   USD 09/01/2032 09/22/2017 ** *.** 09/22/2017 **.** *.**
Azerbaijan, 4.75% 18mar2024, USD   USD 03/18/2024 09/22/2017 *** *.** 09/22/2017 ***.* *.**
Azerbaijan, 5.125% 1sep2029, USD   USD 09/01/2029 09/22/2017 ***.*** *.** 09/22/2017 ***.*** *.**
International Bank of Azerbaijan, 5.625% 11jun2019, USD   USD 06/11/2019 09/22/2017 **.** **.** 09/22/2017 **.** **.**
International Bank of Azerbaijan, 8.25% 9oct2024, USD   USD 10/09/2024 09/22/2017 **.**** **.** 09/22/2017 **.**** **.**
SOCAR, 4.750% 13mar2023, USD   USD 03/13/2023 09/22/2017 **.** *.** 09/22/2017 ***.*** *.**
SOCAR, 6.95% 18mar2030, USD   USD 03/18/2030 09/22/2017 ***.** *.** 09/22/2017 ***.** *.**
Southern Gas Corridor, 6.875% 24mar2026, USD   USD 03/24/2026 09/22/2017 ***.** *.** 09/22/2017 ***.* *.**
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150 000
issues: local and international bonds
170
countries
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