BSTDB debuts in Azerbaijani manat

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By Lewis McLellan
05 Aug 2019

The Black Sea Trade and Development Bank printed its first bond denominated in Azerbaijani manat last week, raising Am10m ($5.9m) with an auction of a two year bond.

“There’s a modern trend among supranationals for issuing local currency denominated bonds to finance private sector projects in those countries,” said Ruslan Khaliov, head of investment banking at Pasha Bank, which ran the trade. “BSTDB approached us with the project, and we did some market sounding, working out ...

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