Investors of SOCAR Bonds made a total income of $1,250,000 during the 13th coupon payments transferred to the bondholders' accounts on January 17, 2020. This case is the first coupon payment for 2020, and with it, the total income of bondholders for the last three years has reached 16,250,000 USD.
According to the information provided by the SOCAR Capital Company, the quarterly coupon payments amounting to $1.25 million of SOCAR bonds with a nominal price of $1000, maturity of 5 years, and 5% annual coupon paid quarterly, have been transferred to investors' bank accounts.
With secondary market operations totaling $185,000,000 and the number of transactions over 2000, SOCAR bonds are considered the most liquid corporate security in the Baku Stock Exchange. REPO operations involving SOCAR Bonds amounting to $34,000,000 is a sign of high demand for these securities.
Investors of SOCAR Bonds can apply for short-term loans on advantageous terms through REPO operations as well as long-term Manat loans at 15-16% by using bonds as collateral in relevant banks. In the latter case, the bondholders keep their right to receive 5% coupons on bonds, and the effective interest rate of the loan decreases to 9-10%.
As a result of high demand by the investors, new bond issues are planned in the current year, and issue preparations are in progress.
The next coupon payment on SOCAR Bonds, which may be obtained at the ASAN Service Centers No. 1 and 5, is scheduled for April 17, 2020.