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Azerbaijan: bonds

The bond market of Azerbaijan is presented by the government and corporate bonds. The domestic bond market of Azerbaijan falls far behind the Eurobond market in terms of volume and makes only 20% of the total debt market of the country.

The Public Debt Management Agency (Azerbaijani: Dövlət Borcunun İdarə Edilməsi Agentliyi) under the Finance Ministry of the Republic of Azerbaijan is engaged in issuing and managing the national debt of Azerbaijan.

The public debt of Azerbaijan consists of the following types of bonds:

• DQI (Azerbaijani: Dövlət Qısamüddətli İstiqrazları) are short-term government bonds with a maturity of 12 months, issued at a discount to nominal value;
• DOI (Azerbaijani: Dövlət Ortamüddətli İstiqrazları) are intermediate coupon government bonds with a maturity of 2, 3 and 5 years.

Azerbaijan government bonds are placed through a public auction at the Baku Stock Exchange (BSE).

The price of the bonds is the subject for sale at an auction. The book-building is carried out through the investment companies that are members of the Baku Stock Exchange.

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
AZN 67 1 757 416 400
USD 4 2 810 820 000
corporate
AZN 49 1 019 000 000
USD 11 6 160 640 800

News and comments

Sovereign rating

Rating AgencyRatingRating scaleDate
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
Rating-Agentur Expert RA *** Rating scale of the creditworthiness of sovereign governments (SGC) -National currency ***
Rating-Agentur Expert RA *** Rating scale of the creditworthiness of sovereign governments (SGC) - Foreign currency ***
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.) ***
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Latest bond issues

issue ISIN coupon volume end of placement maturity date
AzerGold, 4% 24sep2023, USD - Domestic bonds AZ2001019879 4% 20 000 000  USD 09/24/20 09/24/23
Azerbaijan Mortgage and Credit Guarantee Fund, 3.25% 4jun2040, AZN - Domestic bonds AZ2048008687 3.25% 25 000 000  AZN 09/17/20 06/04/40
Central Bank of the Republic of Azerbaijan, Bills 0% 14oct2020, AZN (50101283S, 28D) - Domestic bonds 0% 100 000 000  AZN 09/16/20 10/14/20
Central Bank of the Republic of Azerbaijan, Bills 0% 7oct2020, AZN (50101183S, 28D) - Domestic bonds 0% 200 000 000  AZN 09/09/20 10/07/20
Azerbaijan, Bonds 9% 5sep2023, AZN - Domestic bonds AZ0106017780 9% 30 000 000  AZN 09/08/20 09/05/23
Central Bank of the Republic of Azerbaijan, Bills 0% 30sep2020, AZN (50101083S, 28D) - Domestic bonds 0% 150 000 000  AZN 09/02/20 09/30/20
Azerbaijan, 8.5% 21jan2025, AZN - Domestic bonds AZ0108001782 8.5% 22 416 400  AZN 09/01/20 01/21/25
Azerbaijan Mortgage and Credit Guarantee Fund, 3.25% 14may2040, AZN - Domestic bonds AZ2047008688 3.25% 25 000 000  AZN 08/27/20 05/14/40
Azerbaijan, Bonds 9% 15aug2023, AZN - Domestic bonds AZ0106016782 9% 20 000 000  AZN 08/18/20 08/15/23
Azerbaijan, Bonds 9% 2aug2022, AZN - Domestic bonds AZ0105014788 9% 30 000 000  AZN 08/04/20 08/02/22

Coronavirus

Daily indices

Type: 09/29/20 09/28/20 09/27/20 09/26/20 09/25/20 09/24/20 09/23/20
Asia
[25343] Coronavirus confirmed cases in Azerbaijan 40 061 40 061 40 023 39 895 39 787 39 686 39 524
[25345] Coronavirus deaths in Azerbaijan 588 588 586 585 583 581 580
[25347] Coronavirus recovered in Azerbaijan 37 725 37 725 37 655 37 523 37 392 37 255 37 122
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Money

Periodic indices

Type: Current value Change Last update
Interest Rate (Daily frequency)
[170] CB of Azerbaijan refinancing rate  6.75 -0.25 30.07.2020

Domestic bonds outstanding volume

Monthly indices

Type: Aug 2020 Jul 2020 Jun 2020 May 2020 Apr 2020 Mar 2020 Feb 2020
CIS domestic bonds outstanding volume
[22557] Corporate bonds of Azerbaijan (financial sector), USD bln 0.59 0.57 0.53 0.53 0.50 0.50 0.62
[147] Government bonds of Azerbaijan, USD bln 0.6896 0.6932 0.6667 0.6579 0.6490 0.6696 0.6873
[146] Corporate bonds of Azerbaijan, USD bln 1.9577 1.9430 1.9274 1.9009 1.8851 1.8692 1.8580
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International bonds outstanding volume

Monthly indices

Type: Aug 2020 Jul 2020 Jun 2020 May 2020 Apr 2020 Mar 2020 Feb 2020
CIS international bonds outstanding volume
[21587] Azerbaijan international bonds, USD bln 7.734 7.734 7.734 7.734 7.734 7.734 7.734
[21603] Azerbaijan corporate international bonds, USD bln 4.750 4.750 4.750 4.750 4.750 4.750 4.750
[21619] Azerbaijan sovereign international bonds, USD bln 2.984 2.984 2.984 2.984 2.984 2.984 2.984
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Central banks foreign exchange rates

Daily indices

Type: 09/29/20 09/28/20 09/25/20 09/24/20 09/23/20 09/22/20 09/21/20
CIS central banks official exchange rates
[127] USD/AZN  1.7000 1.7000 1.7000 1.7000 1.7000 1.7000 1.7000
[3591] EUR/AZN  1.9850 1.9775 1.9837 1.9810 1.9854 2.0006 2.0173
[3593] RUB/AZN  0.0215 0.0217 0.0221 0.0221 0.0223 0.0223 0.0225
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New domestic bonds volume

Monthly indices

Type: Aug 2020 Jul 2020 Jun 2020 May 2020 Apr 2020 Mar 2020 Feb 2020
CIS new domestic bonds volume
[11835] New issues of corporate bonds of Azerbaijan (financial sector), USD bln 0.01 0.02 0.01 0.02 0.02 0.01 0.00
[22497] New issues of sovereign bonds of Azerbaijan, USD bln 0.0288 0.0618 0.0000 0.0000 0.0000 0.0147 0.0353
[22499] New issues of corporate bonds of Azerbaijan, USD bln 0.0147 0.0156 0.0147 0.0159 0.0177 0.0118 0.0000
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New international bonds volume

Yearly indices

Type: 2019 2018 2017 2016 2015 2014 2013
CIS new international bonds volume
[20065] Annual new issues of Azerbaijan sovereign international bonds, USD bln 0.000 0.000 2.081 0.000 0.000 1.250 0.000
[20081] Annual new issues of Azerbaijan corporate international bonds, USD bln 0.000 0.000 2.000 1.000 0.750 0.840 1.374
[20097] Annual new issues of Azerbaijan corporate international bonds, (financial sector) USD bln 0.000 0.000 1.000 0.000 0.000 0.840 0.374
[20113] Annual new issues of Azerbaijan corporate international bonds, (non-financial sector) USD bln 0.000 0.000 1.000 1.000 0.750 0.000 1.000

Domestic bonds number

Monthly indices

Type: Aug 2020 Jul 2020 Jun 2020 May 2020 Apr 2020 Mar 2020 Feb 2020
CIS domestic bonds number
[22561] Number of issues of corporate bonds Azerbaijan 54 53 49 49 47 48 48
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New domestic bonds number

Monthly indices

Type: Aug 2020 Jul 2020 Jun 2020 May 2020 Apr 2020 Mar 2020 Feb 2020
CIS new domestic bonds number
[22563] Number of issuers of Azerbaijan corporate bonds 9 9 9 9 9 9 10
[22565] Number of new issues of corporate bonds of Azerbaijan 1 2 0 0 0 1 0
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Bonds prices

issue volume maturity date bid prices ask prices
date bid price yield date ask price yield
Azerbaijan, 2.82% 1sep2021, USD   USD 09/01/21 09/28/20 ***.*** *.* 09/28/20 ***.*** *.*
Azerbaijan, 3.5% 1sep2032, USD   USD 09/01/32 09/28/20 **.** *.** 09/28/20 **.*** *.**
Azerbaijan, 4.75% 18mar2024, USD   USD 03/18/24 09/28/20 *** *.** 09/28/20 ***.*** *.**
Azerbaijan, 5.125% 1sep2029, USD   USD 09/01/29 09/28/20 ***.*** *.** 09/28/20 ***.*** *.**
International Bank of Azerbaijan, 3.5% 1sep2024, USD   USD 09/01/24 09/28/20 **.** *.** 09/28/20 **.* *.**
SOCAR, 4.75% 13mar2023, USD   USD 03/13/23 09/28/20 ***.*** *.** 09/28/20 ***.** *.**
SOCAR, 6.95% 18mar2030, USD   USD 03/18/30 09/28/20 ***.*** *.** 09/28/20 ***.** *.**
Southern Gas Corridor, 6.875% 24mar2026, USD   USD 03/24/26 09/28/20 ***.*** *.** 09/28/20 *** *.**
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