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AZERBAIJAN DENIES PLAN TO BUY HUNGARIAN DEBT
portfolio.hu
Sept 4 2012
Hungary
The State Oil Fund of The Republic of Azerbaijan (SOFAZ) is not
planning to purchase Hungarian bonds or any other financial assets
in Hungary, it said in a statement on Monday.
No bond purchase planned
"Regarding the news about the purchase of Hungarian debt obligations,
the State Oil Fund of the Republic of Azerbaijan publicly reveals
that SOFAZ is not considering any investment into debt obligations
or other financial tools in Hungary," the fund said.
"SOFAZ suggests clarification of such wrong information with the Fund
prior to publishing," it added.
The first reports about Azerbaijan's possible debt purchase in Hungary
occurred in early August. Reuters reported about a month ago that
Hungary was in talks with Turkey and Azerbaijan to issue sovereign
bonds in local currencies.
Later last month Government Debt Management Agency (Ã~AKK) Deputy
CEO László András Borbély said the Ã~AKK was not planning on a
public government bond issue denominated in foreign currency until
an agreement with the IMF is reached.
The issuer also said, however, that in line with the government's plan
to open towards the East the Ã~AKK was examining funding opportunities
on several fixed-income markets where it has not issued debt before.
On 23 August Hungarian weekly FigyelÅ' reported, citing an Economy
Ministry source, that Azerbaijan was looking to buy Hungarian
government bonds of 2 to 3 year maturity, on a scale of EUR 2 to
3 billion.
The next day Borbély rejected the report. "As we have already stated
two weeks ago, the State Debt Management Agency is not planning on
a public government bond issue denominated in foreign currency until
an agreement with the IMF is reached."
When last Friday Hungary sent home an Azeri soldier serving a life
sentence in Hungary for killing an Armenian soldier in Budapest in 2004
and he was pardoned and release, speculation began that the oil and
gas-rich country will express its gratitude for the extradition of a
"national hero" by buying EUR 2-3 bn worth of Hungarian government
bonds.
http://www.portfolio.hu/en/economy/azerbaijan_denies_plan_to_buy_hungarian_debt.24785 .html
From: Baghdasarian
portfolio.hu
Sept 4 2012
Hungary
The State Oil Fund of The Republic of Azerbaijan (SOFAZ) is not
planning to purchase Hungarian bonds or any other financial assets
in Hungary, it said in a statement on Monday.
No bond purchase planned
"Regarding the news about the purchase of Hungarian debt obligations,
the State Oil Fund of the Republic of Azerbaijan publicly reveals
that SOFAZ is not considering any investment into debt obligations
or other financial tools in Hungary," the fund said.
"SOFAZ suggests clarification of such wrong information with the Fund
prior to publishing," it added.
The first reports about Azerbaijan's possible debt purchase in Hungary
occurred in early August. Reuters reported about a month ago that
Hungary was in talks with Turkey and Azerbaijan to issue sovereign
bonds in local currencies.
Later last month Government Debt Management Agency (Ã~AKK) Deputy
CEO László András Borbély said the Ã~AKK was not planning on a
public government bond issue denominated in foreign currency until
an agreement with the IMF is reached.
The issuer also said, however, that in line with the government's plan
to open towards the East the Ã~AKK was examining funding opportunities
on several fixed-income markets where it has not issued debt before.
On 23 August Hungarian weekly FigyelÅ' reported, citing an Economy
Ministry source, that Azerbaijan was looking to buy Hungarian
government bonds of 2 to 3 year maturity, on a scale of EUR 2 to
3 billion.
The next day Borbély rejected the report. "As we have already stated
two weeks ago, the State Debt Management Agency is not planning on
a public government bond issue denominated in foreign currency until
an agreement with the IMF is reached."
When last Friday Hungary sent home an Azeri soldier serving a life
sentence in Hungary for killing an Armenian soldier in Budapest in 2004
and he was pardoned and release, speculation began that the oil and
gas-rich country will express its gratitude for the extradition of a
"national hero" by buying EUR 2-3 bn worth of Hungarian government
bonds.
http://www.portfolio.hu/en/economy/azerbaijan_denies_plan_to_buy_hungarian_debt.24785 .html
From: Baghdasarian