More than 400 investors interested in SOCAR's Green Bonds

An auction was held Friday at the Baku Stock Exchange CJSC (BSE) for the placement of interest-bearing, unsecured, uncertificated, registered bonds of the State Oil Company (SOCAR) worth $200 million, Report informs, citing BSE.

As many as 412 investors submitted 510 orders worth $220 million for 200,000 bonds with a nominal value of $1,000 each. As a result, the placement was fully completed. Four percent of the secured orders belonged to legal entities, and 96% to individuals.

As a result, the placement was completed. Of the orders placed, 4% were from legal entities and 96% from individuals, and 11.15% from individuals and 88.84% from legal entities in terms of value.

The securities will be in circulation for five years. Their annual profitability is 6%. Interest will be paid quarterly. The underwriter of the process is PASHA Capital Investment Company OJSC.

The funds received from the bonds will be spent on renewable projects and investments of SOCAR Green LLC.