BAKU, Azerbaijan, Jan.19
By Leman Zeynalova – Trend:
Around $100 million was raised through the mass placement of new SOCAR bonds in 2021, SOCAR Capital told Trend.
The company noted that the proceeds will be used for the purpose specified in the bond issue prospectus.
SOCAR Capital said that the issuance of new SOCAR bonds for the current year is not on the agenda.
With the first bonds issued in 2016, SOCAR has achieved great success in the securities market and has maintained the status of the most traded security since the first day of circulation in the secondary market.
The first issue of SOCAR bonds ensured a significant revival in the domestic capital markets. Demand for $100 million worth bonds exceeded $200 million.
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.
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