Payment of SOCAR's first Eurobonds issue to complete in February

Baku. 17 January. REPORT.AZ/ Payment of principal amount of first 5-year Eurobonds issue in the amount of 500 million USD and placed on the London Stock Exchange in 2012 will be completed on February 18.

Report informs, SOCAR Vice President on Economic issues Suleyman Gasimov said.

According to him, 403 mln USD of 500 mln have already been paid and remaining 97 mln USD will be paid until February 18.

Notably, for the first time in February, 2012, SOCAR carried out Eurobond emission on the London Stock Exchange. Amount of emission makes 500 million USD, maturity for 5 years, annual yield 5,45%.

S. Gasimov also said that negotiations on loan attraction in the amount of 500 million USD underway. The first 100 million USD will be attracted from "Deutsche Bank" s (Germany) which will be spend on payment of 97 million USD."

According to S. Gasimov, another 100 million USD will be used for payments in STAR project of SOCAR.

Gasimov noted that other funds will be used for loans repayment.