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SOCAR to issue new bonds

​SOCAR to issue new bonds

Holders of SOCAR Bonds, having been issued in 2016 and offering new investment opportunities for our citizens, made an income of 1,250,000 USD once again during the 12th interest payment for SOCAR Bonds organized on October 17, 2019, and total revenue of the bond holders raised up to 15 million USD, Report informs.

According to information provided by “SOCAR Capital” Company, quarterly interest amount of 1.25 million USD of SOCAR Bonds with nominal price of $1,000, turnover period of 5 years, annualized interest gain of 5% and interests of which are paid in a quarterly basis has been transferred to the bank accounts of the holders of SOCAR Bonds.

Increase of price of bonds up to $ 1,046.00 and volume of remarketing operations up to $181,000,000, as well as the number of transactions up to 2,000, being the most traded corporate financial instrument in the Baku Stock Exchange and pass of REPO operations’ amount over $32,000,000 are of the indicators of high demand for SOCAR Bonds.

The new bonds are planned to be issued in the first months of 2020 after determining through surveys and investigations the interest rates that meet the capital markets and investors' revenues, as well as the term and amount.

Holders of SOCAR Bonds are able to obtain short-term loans through REPO operations on advantageous terms, and at the same time, they can obtain a Manat loan from the relevant bank with an annual interest rate of 15–16% for up to 2 years by pledging bond(s) at the National Deposit Center. In this case, the bond holders do not lose their income of 5% and the actual interest rate of the loan, which they have obtained, reduces by 9–10%.

The next interest payment of SOCAR Bonds which may be purchased at the ASAN Service Centers No. 1 and 5 will be made by January 17, 2020.

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