BAKU, Azerbaijan, January 15. The subscription process for new green bonds issued by the State Oil Company of Azerbaijan (SOCAR) aimed at supporting renewable energy projects began starting from January 15, 2024, SOCAR told Trend.
SOCAR stated that the bonds, with a nominal value of $1,000, will offer holders an annual return of six percent.
"The bonds are issued for a period of 5 years, with coupon payments made every 3 months. The deadline to purchase bonds for a total issuance of $200 million is February 28 of this year.
The funds raised from the issuance of these ‘green bonds’ will be allocated to projects and investments in green energy, which are a priority for the country. Through these bonds, issued under the slogan ‘Green income, green future,’ SOCAR aims to support the development of environmentally clean energy sources and provide citizens with reliable and sustainable income opportunities.
Additionally, Azerbaijan's contribution to green energy initiatives is one of the key objectives of the new issuance.
SOCAR's green bonds, underwritten by the PASHA Kapital investment company, can be purchased at SOCAR's bond kiosks located in "ASAN xidmet" centers No. 1 and 5, as well as through investment companies registered in Azerbaijan,” the SOCAR statement said.