SOCAR bonds price climbs on markets again

Baku. 31 August. REPORT.AZ/ The price of SOCAR bonds has risen again.

According to PSG Capital, acting as a market maker of the bonds on secondary market, currently, SOCAR bonds can be sold at $ 1,005 at stock exchange and bought at $ 1,007.

Report informs citing PSG Capital, the reason for price rise is increase in population's awareness on bonds features and demand for the bonds: "Number of physical and legal persons willing to buy the securities is increasing. Especially, appeals from legal persons to buy bonds increase. Therefore, recent purchase and sale of bonds in the secondary market has sharply risen. Only in August, SOCAR bonds of over $ 10 mln were bought and sold in the secondary market".

Notably, SOCAR bonds are the most traded securities in the Azerbaijani stock market. Thus, during the first 7 months of 2017, bonds of $ 63.2 mln were traded at the stock exchange, which means 77.3% of the total bond market during that period.

Totally, bonds of $ 106.2 mln have been traded since issue of SOCAR bonds, which exceeds emission volume of SOCAR bonds.

The annual profitability of SOCAR bonds with a nominal value of 1,000 USD makes 5% or $ 50 per year. Interest is paid 4 times a year, every 3 months. Investors in SOCAR bonds have received interest income three times so far (January 17, April 17 and July 17). The next interest payment this year will be on October 17.