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Dividends worth $1.25M paid to SOCAR bonds’ owners (PHOTO)

Business Materials 17 January 2017 11:32 (UTC +04:00)
Owners of bonds of the Azerbaijani state oil company SOCAR have been paid dividends amounting to $1.25 million, said Suleyman Gasimov, SOCAR vice president for economic issues.
Dividends worth $1.25M paid to SOCAR bonds’ owners (PHOTO)

Baku, Azerbaijan, Jan. 17

By Anvar Mammadov – Trend:

Owners of bonds of the Azerbaijani state oil company SOCAR have been paid dividends amounting to $1.25 million, said Suleyman Gasimov, SOCAR vice president for economic issues.

He made the remarks at a press conference in Baku Jan. 17.

“These funds have already been transferred to bank accounts of the bond owners and the bond owners will be able to use the funds at their own discretion,” he said.

Another press conference attendee, Ali Aghaoglu, SOCAR’s chief advisor on emission of securities, member of the SOCAR Capital Advisory Board, said the secondary bond market is also very active now.

“According to the current data, the volume of bond transactions in the secondary market at the Baku Stock Exchange (BSE) reached $42 million, which is 86 percent of all bond transactions in the secondary market made in the past 2.5-3 months. Foreign individuals and legal entities, particularly from Russia, Turkey and Georgia, have shown a very big interest in the bonds,” Aghaoglu added.

SOCAR started selling its bonds, worth $100 million (100,000 bonds, each worth $1,000), on Sept. 20, 2016. Applications were received until Oct. 10, and the demand for the bonds amounted to $203 million. The sale of SOCAR bonds in Azerbaijan’s secondary market began Oct. 18.

SOCAR bonds will be in circulation until 2021, with 5 percent yield and a payment carried out once in three months.

The next interest payments will take place on April 17, July 17 and October 17, 2017.

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