SOCAR Bonds – the mostly wanted securities, offering an alternative investment opportunity for citizens paid the investors interest payments amounting to 1 million 250 thousand USD as the 14th coupon payment on April 17. With this, the total interest income of the bondholders increased to 17 million 500 thousand USD.
According to SOCAR Capital, the quarterly interest payment at the amount of 1.25 million USD has already been transferred to the accounts of the bond owners. SOCAR bonds have a nominal value of 1,000 USD, maturity of 5 years, annual 5% coupon payments paid quarterly.
Secondary market transactions of SOCAR Bonds reaching 190 million USD, REPO transactions amounting to 34 million USD, and the number of deals exceeding 2,000 set these securities as the most frequently traded corporate debt securities tool in the country.
Owners of the SOCAR Bonds may get short-term loans through a REPO transaction at advantageous terms, as well as long-term loans in Manat at rates of 15 -16 % by pledging the bonds at appropriate banks. In the latter deal, the bond owners will not lose their 5% coupon payments, and the effective interest rate decreasing to 9-10%.
Next coupon payments of SOCAR Bonds are scheduled for July 17, 2020. Bonds can be invested in via ASAN Service No 1 and 5. For further details, investors may contact *19 99.