Petkim Petrochemical Complex makes 3rd payment with regard to its bonds
Baku, Azerbaijan, July 26
By Leman Zeynalova – Trend:
Petkim Petrochemical Complex, owned by Azerbaijan’s state oil company SOCAR in Turkey, has made the third payment with regard to its bonds, Trend reports citing Turkey’s Public Disclosure Platform (KAP).
“In order to be transferred into the related investors' accounts, $14,687,500 has been paid as the payment of third coupons with regard to our company's $500 million 5 year maturity bonds,” reads the message on KAP’s website.
Reportedly, the first payment was made on July 27, 2018, while the second payment was made on January 28, 2019.
Petkim Petrochemical Complex placed Eurobonds worth $500 million on Irish Stock Exchange in January 2018 with maturity date until January 26, 2023.
Petkim produces plastic packaging, fabrics, PVC, detergents, and being the only Turkish manufacturer of such products, the company exports a quarter of its production. The complex includes 14 factories producing 20 different types of products. Petkim's production capacity is 3.6 million tons per year.
Equity participation of shareholders in the complex’s capital is as follows: SOCAR Turkey Petrokimya A.S. - 51 percent, 49 percent of the shares are in free float on the stock exchange.
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