Next interest on SOCAR bonds paid
By Sara Israfilbayova
The State Oil Company of Azerbaijan SOCAR carried out the eighth 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.
For two years from the moment of issue, bonds have become the most traded financial instrument in the country’s securities market.
The demand in the primary market for SOCAR bonds was twice as high as the sum of the issue, and the volume of trading operations in the secondary market amounted to about $ 170 million.
The main advantages of bonds are the guarantee of purchase for the nominal price, high liquidity, convenience of operations and interest payments in accordance with the schedule.
SOCAR bondholders can also take short-term and long-term loans against securities, while maintaining 5 percent per annum.
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.
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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Sara Israfilbayova is AzerNews’ staff journalist, follow her on Twitter: @Sara_999Is
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