SOCAR carried out next payments on bond interests


July 17, Fineko/ Today, the State Oil Company of Azerbaijan (SOCAR) has carried out the next payment of interests on its bonds issued for the domestic market.

SOCAR Capital informs that $12.5 a bond was transferred to the accounts of bondholders, that is equal to a total of $1.25 million.

"The amounts were transferred a week before interest payment to the account of the National Depository Center (NDC) at the Central Bank and today have been transferred to the accounts of the owners of SOCAR bonds. This is the 7th payment of interests on SOCAR bonds. Thus, to date, the income of the owners of the above-said bonds reached $8.75 million as a whole," SOCAR Capital said in a statement.

The annual yield of bonds with par value of $1,000 makes up 5%. Interests are paid every 3 months.

Since November 2017 the REPO operations with SOCAR bonds were launched. The REPO mechanism allows SOCAR bondholders to take loans at low interest rates by placing their securities. The next and final payment of interest on SOCAR bonds for this year will be made on 17 October.