Income of SOCAR bond holders to be brought up to $12.5 million on 17 April


April 4, Fineko/abc.az. The second payment on bonds of the State Oil Company of Azerbaijan (SOCAR) for 2019 will be made on 17 April.

SOCAR Capital reports that $1.25 million or $12.5 million for each bond will be transferred to the account of the National Deposit Center (NDC) in the Central Bank a week before the payment.

"Interests on SOCAR bonds are paid every three months. This will be the 10th payment of interest for these securities, which bring 5% of the annual income in dollars, and thus the total profit of bondholders will be increased up to $12.500 million," it was reported.

The total volume of secondary market operations on SOCAR bonds currently exceeds $172 million.

In Q1 of 2019 more than 110 (a total of 1,700) trade transactions were concluded. On 17 April, half of the total interest payments of SOCAR bonds issued for the period of 5 years will be completed, and at the end of the completed period the total income of loan holders will be $25 million.