Dechert’s London-based emerging markets team advised the State Oil Company of the Azerbaijan Republic (“SOCAR”), one of the world’s largest oil companies, in connection with its issuance of US$1,000,000,000 4.75% Senior Unsecured Notes due 2023. Deutsche Bank acted as sole bookrunner.
Partner Camille Abousleiman led the Dechert corporate team advising SOCAR, assisted by fellow partner Wayne Rapozo, senior associate Patrick Lyons and associate Jennifer Buckett.
SOCAR is Azerbaijan’s only issuer on the international capital markets. This transaction is SOCAR’s second issue; Camille Abousleiman and his team also advised SOCAR on its debut issuance in 2012.
Said Abousleiman: “We are pleased to have assisted SOCAR on another benchmark transaction in terms of size and maturity. We are pleased to contribute to SOCAR’s success and Azerbaijan’s continued development in the international capital markets.”
In addition to the above issuance, Dechert’s London-based Emerging Markets has also recently advised on several key issuances in the region, including the milestone intermediated exchange offer for the Development Bank of Kazakhstan, which was the first US dollar-denominated and the first Rule 144A intermediated exchange offer in the world, the most recent offering involving JSC Kazakhstan Temir Zholy, as well as a number of capital markets transactions involving banks and corporates in Georgia, highlighting the firm’s predominance in high value capital markets transactions in the region.
