BAKU, Azerbaijan, February 19. Over 280 deals, amounting to $11 million, were finalized for the second issuance of SOCAR Bonds, which had an issue volume of $100 million in 2023, a source at SOCAR Capital told Trend.
Secondary market operations for these bonds took place on the Baku Stock Exchange on November 2, 2021.
“Interest payments on SOCAR Bonds are distributed to all bondholders simultaneously four times a year, specifically on February 1, May 1, August 1, and November 1,” said the source.
The 9th coupon payment on SOCAR bonds was credited to bond holders’ accounts on 1st February 2024. These bonds, with a par value of $1,000, a maturity period of 5 years, and a 4.5% coupon rate paid quarterly, continue to gain popularity.
Following the ninth coupon payment, new SOCAR bonds, which have been the most sought-after securities during their 3-year public offering on the Baku Stock Exchange, have generated $1.125 million in income for bond holders. Consequently, the total income earned by bond holders to date has reached $10,125,000. By the end of the 5-year period, the total income is projected to reach $22.5 million.
The robust demand for these bonds is evidenced by the significant activity in the secondary market, with transaction volumes reaching $40 million and the number of transactions increasing to 700.
SOCAR bonds, available for subscription at SOCAR bond kiosks located in ASAN Service centers No 1 and 5, as well as through registered investment companies in Azerbaijan, maintain high liquidity, with their price never dropping below the par value of $1,000.
The next coupon payment on SOCAR bonds is scheduled for 1st May 2024.
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