SOCAR starts to pay interest on bonds

Baku. 12 January. REPORT.AZ/ Azerbaijan State Oil Company (SOCAR) has started to pay interest on bonds issued in dollars. Report informs referring to SOCAR Capital, the nominal value of each bond is $1,000. The annual bond yield is 5 percent, while interest income is not taxable and will be paid quarterly. The first payments will be made on January 17.

Each bond's interest payment is $ 12.5. The bondholders can use the money as they wish; either keep them in bank account or withdraw in cash, or purchase new bonds.

Every time $ 1.25 million including $ 5 million will be paid to bondholders in January for SOCAR bonds with total volume of $100 million during the year.

This year, the next interest payments will be carried out on April 17, 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. At present, SOCAR bonds can be obtained at an affordable price on the secondary market.

In order to purchase bonds customers can visit "ASAN Service" 1 or 5 and call *1999 or visit website www.socaristiqraz.az", - said in a statement.