Azerbaijan sells $1bn Southern Gas Corridor Eurobond

Southern Gas Corridor Eurobond: Azerbaijan’s Southern Gas Corridor company has raised $1bn in a 10-year Eurobond at a yield of 6.875% , half the total it requires for the development of  Phase 2  of its offshore  Shah Deniz gas field.
The  field’s development is a key element in the $45bn  Southern Gas Corridor  that will eventually stretch over 3,500 km from the Caspian Sea to Italy’s Adriatic coastline, will  cross seven countries and which already involves more than a dozen major energy companies. Azerbaijan started placing $2bn bonds on international markets in early February.