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