SOCAR bonds price rises on market

Baku. 16 March. REPORT.AZ/ The PSG Capital Investment Company, market maker of the bonds issued by the State Oil Company of Azerbaijan Republic (SOCAR), has increased purchase and sale prices of the securities in secondary market.

Report informs referring to the company, purchase price of the bonds now makes $ 1 008, selling price is $1 005.

Notably, secondary market of the SOCAR bonds was launched on October 17. Currently, the company owns 100 000 bonds in turnover at par value 1 000 USD each. Annual yield is 5% or 50 USD for each bond. Interest are paid every 3 months ( 17 April, 17 July and 17 October).

According to the "PSG Capital", rapid growth of bonds' prices is due to the approaching the date of payments. Some buyers in order to get interest payments try to purchase bonds before that time. That is why, sale of the bonds accelerated in recent times. Only last week securities worth 2.75 mln USD traded in the secondary market. Notably, SOCAR bonds are the most traded securities on the stock market. Thus in two months of this year bonds worth 29.4 mln USD were sold in stock market which is 76.2% of the total bond market. After the issuance of SOCAR bonds, securities worth 69.1 mln USD have been traded.