In 2016 State Oil Fund of Azerbaijan (SOFAZ) took AZN 472.007 million term-loans, said the audit report prepared by PricewaterhouseCoopers Audit Azerbaijan LLC.
The term loan is denominated in Japanese Yen. Bank borrowings mature by 09 September 2024 and bear coupon of 0.81% annually (2015: nil). An investment property is pledged as collateral for the borrowing.