Demand for SOCAR bonds twice exceeds supply

Orders for bonds of State Oil Company of the Azerbaijan Republic have reached $204 million

Baku. 11 October. REPORT.AZ/ Demand for bonds issued by the State Oil Company of the Azerbaijan Republic (SOCAR) for citizens and entities twice exceeded existing supply with $100 mln. total value.

Report was informed in the company.

The order intake started on September 20 for SOCAR bonds with 5-year duration and interest payment once in three months finished on October 10.

Orders will be allocated on October 12 and placed on October 13 after final compilation of preliminary orders managed by cooperation of ASAN Services, Azerbaijan International Bank, Azer-Turk Bank, Xalq Bank, Capital Bank, Rabitabank, Invest-Az, PASHA Capital and PSG Capital, the underwriter of the process. Operations will be kicked off on October 17 after approval of Capital Market Control Chamber on October 14.

$203,604 million demand has been registered for SOCAR bonds with $100 mln. total value. Preference during allocation will be given to citizens then demands of legal entities will be considered as it is written in emission prospectus.

Final results will be published on October 14. Money of investors whose demands cannot be met will be returned to their bank accounts on October 14-18. 

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