SOCAR reduces purchase price of bonds

Baku. 8 November. REPORT.AZ/ 'PSG Capital Investment Company' CJSC, which is a market maker of bonds issued by the State Oil Company of Azerbaijan Republic (SOCAR), has decreased purchase price of bonds by 9,2 USD in the secondary market.

Report informs citing the Baku Stock Exchange (BSE).

According to information, purchase price of the bonds now makes 1 002,8 USD. Selling price has not changed and remains at 1 025 USD.

Thus, SOCAR's profit margin on each bond sale increased from 13 USD to 22,2 USD.

Notably, secondary market of the SOCAR bonds was launched on October 18. Currently, the company owns 100 000 bonds in turnover at par value 1 000 USD each. Repurchase guarantee bonds of SOCAR will be in circulation until 2021.

Annual yield is 5%. Interest are paid every 3 months.