SOCAR offers bonds for Azerbaijani citizens - UPDATED

Baku. 16 September. REPORT.AZ/ Today, the State Oil Company of Azerbaijan Republic (SOCAR) has presented SOCAR bonds issued for Azerbaijani citizens.

Report informs, sale of the bonds will begin on September 20 and continue until October 10.

The bonds of 1 000 USD nominal cost will bring profits of 5% annual. Interests will be paid each 3 months. No tax will be deducted from the revenue of the bonds.

More information can be found at www.socaristiqraz.az.

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At the presentation ceremony, SOCAR President Rovnag Abdullayev said that at initial placement only Azerbaijani citizens and local companies will be able to obtain the bonds. According to him, SOCAR guarantees the liquidity of bonds at the same time, investors are able to convert their bonds to cash at any time: "In addition, foreign individuals and legal entities can purchase these bonds in the secondary market".

SOCAR President also noted these bonds are new beginning in country's financial market and will bring benefits to all stakeholders.