BAKU, Azerbaijan, April 5. The next coupon payment on SOCAR bonds will take place on May 1 this year, SOCAR Capital told Trend.
“On this day, $1.125 million of interest income will be transferred to the accounts of bondholders,” the company said.
The first coupon payment on the 2nd SOCAR Bonds issued at $100 million, demand for which was $400 million, took place on February 1 and generated a total cash inflow of $1,125 million to its owners. Quarterly coupon payment of $1.250.000 on new SOCAR Bonds with a nominal value of $1,000 and a maturity of 5 year, annual coupon of 4.5% distributed every quarterly was transferred to accounts of SOCAR bondholders.
SOCAR bondholders can get a short-term loan through repurchase (Repo) agreements on favourable terms, as well as access loans in AZN at rates of 14-15% by collaterizing their bonds at a bank. In this case, the bondholders do not lose their coupon payments of 4.5%, while the actual interest rate of the loan decreases to 9-10%.
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