SOCAR bonds to be involved in repo transactions

Baku. 18 October. REPORT.AZ/ Issuance of bonds of the State Oil Company of Azerbaijan Republic (SOCAR) revived the stock market. Report informs, Chairman of Board of the National Depository Center (NDC) Araz Aliyev said at a press conference on results of sales of SOCAR bonds and beginning of operations in secondary market.

He said that although Azerbaijan has experience in issuing a large extent of bonds and shares, the excess of demand over supply has not been fixed for SOCAR bonds yet: "The release of these bonds eliminated congestion in the capital market. Now, market participants are working to attract these bonds for repo transactions. An initial agreement has already been achieved with the NDC."