Azernews.Az

By Sara Israfilbayova

Petkim Holding, the main share of which is owned by SOCAR, paid the first interest on Eurobonds in the amount of $500 million placed on the Irish Stock Exchange.

Petkim reported that $14.69 million was transferred on the accounts of the Eurobonds owners.

On January 26 Petkim (Petrokimya) Holding placed the first issue of Eurobonds with a volume of $500 million on the Irish Stock Exchange. The annual yield of bonds with a maturity of 5 years will be 5.875 percent.

The interest payment has been started since July 26, 2018 and will be paid every six months (July 26 and January 26) before the expiry of the circulation period.

SOCAR acquired a 51 percent stake in Petkim for $ 2.04 billion in 2008. The remaining shares of the holding are in circulation on the Istanbul Stock Exchange.

Founded in 2008, SOCAR Turkey, officially titled “SOCAR Turkey Enerji A.Ş.”, is an affiliate of SOCAR, one of the most well-established oil and natural gas companies of the world.

With its total investment volume of $19.5 billion to be realized by 2020, SOCAR is proud to stand as the biggest foreign investor of Turkey. Similarly, SOCAR’s group companies in Turkey, namely Petkim, STAR Refinery, Petlim Container Terminal and Trans-Anatolian Natural Gas Pipeline (TANAP) represent the largest-scale investment Azerbaijan has made to a single country to date.

SOCAR 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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Sara Israfilbayova is AzerNews’ staff journalist, follow her on Twitter: @Sara_999Is

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