SOCAR Capital talks on demand for its bonds

Oil&Gas Materials 31 August 2020 14:35 (UTC +04:00)
SOCAR Capital talks on demand for its bonds

BAKU, Azerbaijan, Aug.31

By Leman Zeynalova – Trend:

The demand for bonds issued by SOCAR Capital in the amount of $100 million has exceeded $200 million, the company told Trend.

“The bonds were issued at a time when the confidence of our citizens in the banking sector was not at the desired level, and there were no profitable and reliable financial instruments in the market,” said the company.

“SOCAR bonds, issued for a period of five years, yielding 5 percent per annum with interest payments every three months, have filled this gap in the market. Such an investment instrument does not exist in developed financial markets abroad, as SOCAR gave full liquidity to its bonds.

“SOCAR bonds haven’t been sold for less than $ 1,000, which is face value. The absolute majority of sales were over $1,000. In addition, investors always received interest income on time in accordance with the schedule. This shows what a favorable investment tool we have presented to the population.

“The volume of secondary market transactions exceeded $191 million, the number of deals concluded exceeded 2,200 and REPO transactions exceeded $ 36 million,” said the company.


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