BAKU, Azerbaijan, April 6. In the first quarter of this year, SOCAR bonds maintained the status of the most traded corporate securities, SOCAR Capital told Trend.
“SOCAR bonds accounted for 35 percent of corporate securities’ transactions on the Baku Stock Exchange. A total of 183 deals were concluded on 19 bond instruments belonging to 13 issuers in Q1 2022. Around 64 of these deals were related to SOCAR bonds ($3.8 million). Since SOCAR bonds offer long-term and reliable high returns, they are in greater demand by individuals,” said the company.
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%.
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.
The next coupon payment on SOCAR bonds will take place on May 1 this year.
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