SOCAR bonds price going up

Baku. 4 April. REPORT.AZ/ PSG Capital Investment Company, acting as a 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 company, purchase price of the bonds now makes $ 1012,5, selling price is $1007-1008.

Notably, secondary market of 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 in March securities worth 8,3 mln USD traded in the secondary market. 

Notably, SOCAR bonds are the most traded securities on stock market. Thus, up to date bonds worth 66 mln USD were sold in stock market which makes 2/3 of the total bond market.