IBA planning first benchmark dollar bond

By Steven Gilmore
29 May 2014

International Bank of Azerbaijan started investor meetings this week for its first dollar benchmark bond. The issuer can use a recent sovereign benchmark as a pricing reference point, although asset quality and Russian exposure could push it well wide of government spreads.

IBA has picked Citi and JP Morgan for bond meetings. The borrower met buyers in London on Thursday and Friday, and will go to Frankfurt on Monday, finishing in Zurich and Geneva on Tuesday.

The deal would be IBA’s first benchmark dollar bond, and its first deal in ...

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