SOCAR pays interest to bondholders
By Sara Israfilbayova
The State Oil Company of Azerbaijan SOCAR carried out regular interest payments on bonds.
SOCAR Capital reported that today, $12.5 per bond transferred to the bank accounts of bondholders, which is in total amounts to $1.250 million.
In 2017, investors earned $5 million on SOCAR bonds. This is the fifth payment of interest.
SOCAR issued dollar bonds with a volume of $100 million in September 2016. The period of their circulation is five years, and the rate is 5 percent. In the secondary market, trades on the bonds of SOCAR began on October 17, 2016.
The nominal value of the bonds is $1,000 and the annual yield of each bond is $50, which makes these bonds the most profitable in the financial market.
SOCAR bonds on the secondary market along with Azerbaijani citizens can be purchased by foreign individuals and legal entities. Over the past period, foreign investors have been interested in these securities.
Another factor that increases investor interest in SOCAR's bonds is high liquidity and a guarantee that the value of bonds will never fall below $1,000 and they can always be converted into cash currency.
SOCAR is a wholly state-owned national oil company headquartered in Baku, Azerbaijan. The company produces oil and natural gas from onshore and offshore fields in the Azerbaijani section of the Caspian Sea.
The company includes such production associations as Azneft (the enterprises producing oil and gas onshore and offshore), Azerikimya (the chemical enterprises) and Azerigas (distributor of gas produced in the country), as well as oil and gas processing plants, service companies, and the facilities involved in geophysical and drilling operations.
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