SOCAR bonds price climbs on markets

Baku. 15 February. REPORT.AZ/ Purchase price of bonds issued by the State Oil Company of Azerbaijan Republic (SOCAR) and most traded in local and stock marketincreased.

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

According to report, currently SOCAR bonds sold at 1 004-1 005 USD.

"PSG Capital Investment Company" also said that as deadline for payment of interest on USD bonds is comingcloser, their price will rise.

Interest are paid every 3 months. Investors earn 12.5 USD for each bond and a total of 50 USD during a year. The first payment carried out on January 17.

Notably, bonds worth 100 mln USD were issued with a 5-year term with an annual yield of 5%. SOCAR bonds have started to trade in the secondary market from October 17.

Earlier, PSG Capital has published the results of the sale of bonds for January. It was found that last month 82 deals concluded for the sale of bonds worth 16.5 mln USD. 72% of buyers were new customers, 28% - old customers. Up to date, bonds worth 50 mln USD traded in secondary market.