SOCAR paid first interest on bonds

Baku. 17 January. REPORT.AZ/ The State Oil Company of Azerbaijan Republic (SOCAR) has carried out the payment of interest on USD bonds.

Report informs, SOCAR Vice President on Economic issues Suleyman Gasimov said at an event held on this occasion that the issue of bonds and their circulation in the secondary market, along with the diversification of SOCAR's financial sources, contributes to a more effective use of assets of citizens and supports the development of securities market.

According to him, interest total amount of 1, 250, 000 USD was paid to SOCAR bondholders today. These funds are transferred to their bank accounts and people can use them as they wish.

Chief consultant on capital markets of SOCAR and 'SOCAR Capital''s Consulting Council member Ali Aghaoglu noted that the terms offered to investors purchasing bonds are the most profitable, not only in Azerbaijan but also in the region: "SOCAR said that the company is ready to buy back bonds from holders at par value of 1,000 USD any time. This means 100% guarantee to investors, which has never been offered by any company yet".