The Central Bank of the Republic of Azerbaijan announced that the European Bank for Reconstruction and Development (EBRD) has completed the first AZN-denominated bond placement in Azerbaijan’s domestic market, issued through a public offering. The bonds total AZN 50 million, have a one-year maturity, and are the local market’s first floating-rate bonds, with coupons linked to the central bank’s AZIR benchmark. The coupon is set by reference to the AZIR index, described as the reference interest rate in the unsecured interbank money market, which the central bank presented as a reliable benchmark for bond issuance and a basis for introducing more complex financial instruments. Investor orders from 12 investors reached AZN 55.2 million, exceeding the placement size, and the central bank linked the transaction to broader efforts to diversify capital market instruments and deepen domestic financing.
Central Bank of the Republic of Azerbaijan 2025-10-01
Central Bank of the Republic of Azerbaijan reports first AZIR-linked manat floating-rate bond issuance by EBRD
The Central Bank of the Republic of Azerbaijan announced the completion of the first AZN-denominated bond placement by the European Bank for Reconstruction and Development in Azerbaijan’s domestic market. The AZN 50 million bonds, with a one-year maturity, are the market's first floating-rate bonds, linked to the central bank's AZIR benchmark. Investor demand exceeded the placement size, supporting efforts to diversify capital market instruments and deepen domestic financing.