SOCAR Incurs Huge Debt, Raises Questions

SOCAR Incurs Huge Debt, Raises Questions CESD experts question the decision of SOCAR to incur long-term debt by issuing Eurobonds Azeri state energy firm SOCAR plans to issue Eurobonds worth $1 billion for refinancing its existing debt and funding its upstream and downstream operations, a SOCAR official and Moody’s said on March 02, 2013. SOCAR President said the company carried out the first issue of Eurobonds in the amount of $500m in February 2012.  “The profitability... Read More