SOCAR bonds increase in price again

12.09.2018,16:27


September 12, Fineko/abc.az. Investment company PSG Capital has unveiled data on the bonds of the State Oil Company of Azerbaijan (SOCAR), the most sold securities of the country. PSG reports that the SOCAR bonds have grown in price again.

SOCAR Capital informs that volume of transactions on SOCAR's corporate bonds in the secondary market has exceeded $160 million to the present.

Currently, purchase price of the bond on the stock exchange is $1,022 and the selling price is $1,008.50.

Activity was also observed in the market of REPO operations with SOCAR bonds. Through these operations the bondholders raised funds in the amount of $28 million in the securities market.

Previously it was reported that in September 2016 SOCAR carried out the first issue of 5-year bonds in the domestic market in the amount of $100 million. The orders for Company's bonds exceeded $203.4 million.

The issue was divided into 100,000 bonds with par value of $1,000 per security. The purpose of the issue is to diversify Company's financial channels and create new investment opportunities for the population.

The yield on bonds is 5% a year. Interests are paid every three months.