BAKU, Azerbaijan, April 14. The State Oil Company of Azerbaijan (SOCAR) has repaid the main debt on Eurobonds placed on the London Stock Exchange, the press service of SOCAR told Trend.
According to the press service, the value of Eurobonds issued in circulation amounted to $1 billion with an annual yield of 4.75 percent and a placement period of 10 years. During this period, bondholders received a total of $475 million.
Besides, Petkim Petrokimya Holding also repaid the principal debt on Eurobonds placed on the Irish Stock Exchange, the press service said.
The annual coupon yield of Petkim Eurobonds, issued for a period of five years, amounted to 5.875 percent. The nominal price of these Eurobonds was $1,000, and over the period of circulation, the market price rose to $1,031. Investors made a total profit of $147 million over five years.
In total, investors received a profit of $622 million on Eurobonds of Petkim Petrokimya Holding and SOCAR.
At present, according to the press service, SOCAR bonds worth $750 million are traded on international capital markets, and $100 million on the Azerbaijani market.
Thus, SOCAR seeks to maintain the status of a reliable partner both in the international and domestic capital markets, the press service explained.
SOCAR has 51 percent of the shares in Petkim Petrokimya Holding.