SOCAR prepares for next interest payment on bonds

Baku. 28 March. REPORT.AZ/ The State Oil Company of Azerbaijan Republic ( SOCAR) will pay interest on bonds issued in dollars. 

Report informs referring to the SOCAR Capital, interests on bonds will be paid on April 17.

Each bond's interest payment is $ 12.5. Every time $ 1.25 million including $ 5 million will be paid to bondholders for SOCAR bonds with total volume of $100 million during the year. The bondholders can use the money as they wish; either keep them in bank account or withdraw in cash, or purchase new bonds.

Notably, annual yield is 5% or 50 USD for each bond. Interest are paid every 3 months ( 17 April, 17 July and 17 October). The first payment was made on January 17. Currently, the company owns 100 000 bonds in turnover at par value 1 000 USD each. This year, the next interest payments will be carried out on July 17 and October 17.

"The biggest advantage of SOCAR bonds is that they are in dollars, the company set a minimum purchase price - due to the high level of liquidity the price cannot drop below $ 1 000. Thus, it is possible to convert bonds into a cash without any loss in just a few minutes. This is also a great advantage for investors who do not have any investment instrument. The bond's characteristics, as well as form of guarantee given to them can be watched in this video ( https://www.youtube.com/watch?v=zNl2W3jSnvA).

In order to purchase bonds customers can visit "ASAN Service" No 1 or No 5 and call *1999 or visit website www.socaristiqraz.az.

Notably, SOCAR bonds are the most traded securities on the stock market of Azerbaijan. Thus, in the first two months of this year, the stock has been sold bonds worth $ 29.4 mln, which is 76.2% of the total bond market. Since the issue of SOCAR bonds up to date securities worth $ 69.1 million were traded.