Price of SOCAR bonds up by over 2 USD

Baku. 2 November. REPORT.AZ/ 'PSG Capital Investment Company' CJSC, which is a market maker of bonds issued by the State Oil Company of Azerbaijan Republic (SOCAR), has increased purchase price of the bonds over 2 USD in the secondary market.

Report informs citing the Baku Stock Exchange (BSE).

According to information, purchase price of the bonds now makes 1 004,08 USD, which is more by 2,14 USD compared to the previous day's price. Selling price up from 1 016,94 USD to 1 017,08 USD that means increase by 0,16 USD.

Thus, the market maker reduced SOCAR's profit margin on each bond sale from 15 USD to 13 USD.

Notably, secondary market of the SOCAR bonds was launched on October 18. Currently, the company owns 100 000 bonds in turnover at par value 1 000 USD each. Repurchase guarantee bonds of SOCAR will be in circulation until 2021.

Annual yield is 5%. Interest are paid every 3 months.