SOCAR bonds owners earn $0.14 daily

Baku. 13 March. REPORT.AZ/ Bonds issued by the State Oil Company of Azerbaijan Republic (SOCAR) for domestic market bring daily income of $0.14 to owner.

Report informs, 'PSG Capital Investment Company' CJSC, acting as a market maker of the bonds, has said.

According to the information, securities with a nominal value of 1 000 USD were issued with a 5-year term with an annual yield of 5% or 50 USD. Interest income is calculated every day, that means 4.17 USD per month and $0.14 per day.

Given that the issue of SOCAR convertible bonds approximately 5 months, investors were paid 21 USD for each bond. Bondholders were paid 12.5 USD on January 17, during the first interest payment.

Next part of earnings will be paid on April 17, July 17 and October 17.

Earlier, PSG Capital has published the results of the sale of bonds for January-February. It was found that deals concluded for the sale of bonds worth 29,4 mln USD, which is 76.2% of the total bond market. Up to date, bonds worth 69,1 mln USD traded in secondary market.

In recent times, price of SOCAR bonds are growing and this figure now reaches $1 007-$1 008.