17/07/2014PASHA Bank, one of Azerbaijan's leading banks, acted as a broker for the Bank of Georgia's purchase of local Azerbaijani corporate bonds. This is one of the first foreign investment in local currency (AZN) Azerbaijani corporate bonds in the last five years. PASHA Capital acted as the broker for this transaction.
This deal demonstrates growing interest from foreign investors in the Azerbaijani debt market, but also increasing willingness to take on FX risks by conducting transactions in Azerbaijan's national currency.
Taleh Kazimov, Chief Investment Officer of PASHA Bank, commented: "Cooperating with the Bank of Georgia once again demonstrates how foreign investors have a high level of confidence in PASHA Bank both in the local market and beyond. I strongly believe that this deal will strengthen our working relationship with the Bank of Georgia. We hope to build further ties with both local and foreign financial institutions by enhancing our position as a professional market player and a reliable partner."