Interest payments on SOCAR dollar bonds to start January 17
Interest payments on US dollar bonds issued by Azerbaijan’s state oil company SOCAR will begin on January 17.
Dividends on SOCAR bonds with a nominal value of $1,000 each and with an annual yield of 5 percent will be paid four times a year, SOCAR Capital, a SOCAR unit operating in the securities market, said in a message.
The quarterly income for each bond will be $12.5. Bond owners can use these funds at their own discretion – they can leave them on the bank account, cash them or spend them on new bonds.
Every year, the owners of SOCAR bonds worth $100 million in total will be paid $5 million ($1.25 million per quarter) in dividends.
The next interest payments will take place on April 17, July 17 and October 17, 2017.
The biggest advantage of SOCAR bonds is that they are issued in dollars, the minimum purchase price of the bonds is set by SOCAR (the bond price cannot be lower than $1,000), and their high liquidity.
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