10th payment of interest made on SOCAR bonds

17.04.2019,14:36


April 17, Fineko/abc.az. The 10th payment of interests was made on SOCAR bonds bringing 5% annual income in dollars, interests from which are paid every three months. Thus, the total income of bondholders reached $12.5 million.
SOCAR Capital reports that in the coming quarters of the year the interest payments on SOCAR bonds, the turnover of which will continue until 2021, will be made 10 more times. Due to that, bondholders will earn an additional $12.5 million (totally $25 million).

The second payment on SOCAR bonds for 2019 took place on 17 April. Funds in the total amount of $1.25 million – $12.5 on each bond were transferred to the account of the National Depository Center (NDC) in the Central Bank.

Currently, in the secondary market, the total volume of operations on SOCAR bonds, the main characteristics of which are the guarantee of repurchase at nominal price, high liquidity, simplified purchase and sale operations and interest payments according to the schedule, exceeded $172 million. At the Baku Stock Exchange, the most traded and purchased were securities – in the first quarter of 2019 the number of transactions amounted to more than 120, and a total of 1,700 transactions were carried out. Even as a result of high demand, the sale price of SOCAR's bond market maker rose up to $1,046.

On 17 April, half of the total interest payments on SOCAR bonds (they can be purchased at ASAN xidmət centers #1 and #5) issued for 5 years was already completed.
The next payment of interests on the bonds will take place on 17 July.

Keywords: socar