SOCAR plans to issue new USD bonds for domestic market

Oil&Gas Materials 8 January 2021 13:34 (UTC +04:00)
SOCAR plans to issue new USD bonds for domestic market

BAKU, Azerbaijan, Jan.8

By Leman Zeynalova – Trend:

Taking into account the numerous requests from investors, SOCAR, the largest company and taxpayer in Azerbaijan, plans to issue new bonds in US dollars for the domestic market in 2021, SOCAR Capital, a SOCAR group company of Azerbaijan told Trend.

The parameters of the new bonds are as follows:

Duration: 5 years

Coupon percentage: 4.5%

Interest payment period: quarterly

Nominal value: 1000 (thousand) USD

Number: 100,000 units (total amount - 100 million US dollars)

Total coupon amount to be paid at the end of 5 years- $ 22.5 million

Offer method - subscription

Market maker: PSG Capital Investment Company

SOCAR Capital’s main tasks are: ensuring access to capital markets for SOCAR Group companies through alternative financial instruments; ensuring that all investors, especially Azerbaijani citizens, have a direct share in SOCAR's revenues; directing non-active funds to profitable sectors of the economy by creating new alternative investment opportunities; supporting the sustainable development of Azerbaijan's financial markets.


Follow the author on Twitter: @Lyaman_Zeyn