SOCAR makes interest payments on bonds

SOCAR makes interest payments on bonds

BAKU, Azerbaijan, Apr. 17

By Nargiz Ismayilova - Trend:

The bonds of Azerbaijani State Oil Company SOCAR, which have become the most attractive and alternative securities for investments of Azerbaijan's citizens and investors, as a result of the 14th interest payment on April 17, once again brought revenue to owners worth $1.25 million, Trend reports with citing SOCAR Capital LLC.

According to the message, the overall revenue from the owners' bonds increased up to $17.5 million.

According to the data, the quarterly interest payment on SOCAR’s bonds with a face value of $1,000, maturity of five years and an annual yield of five percent, was transferred to the accounts of bondholders.

The volume of transactions in the secondary market for bonds reached $190 million, the number of transactions exceeded 2,000, which shows the high demand for them. This is the best-selling corporate financial instrument on the Baku Stock Exchange (BSE). Repo transactions on bonds amounted to $34 million.

SOCAR's bondholders can obtain short-term loans through repo transactions on favorable terms, as well as attract manat loans at a 15-16 interest rate by pledging bonds in the relevant bank. In this case, bondholders do not lose 5 percent of their income, and the actual interest rate on the loan they receive is reduced to 9-10 percent.

The next interest payment on SOCAR bonds, which can be purchased through ASAN 1 and ASAN 5 service centers, will take place on July 17, 2020. For more information, please contact the investor support service - *1999.

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Follow the author on Twitter: @IsmailovaNargis

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