SOCAR bondholders to receive 12th payment


October 11, Fineko/ On 17 October SOCAR is to make the 12th payment of $1.25 million on interests to the SOCAR bondholders, while the total income of bondholders will grow up to $15 million.

The quarterly amount of interests on SOCAR bonds has been transferred to the account of the National Deposit Center at the Central Bank of Azerbaijan.  The amount of the bonds is $25 million, the nominal value $1,000, the circulation period 5 years, and the annual yield is 5%. Interests on the bonds are paid every three months.

The SOCAR bondholders can raise on favorable terms short-term loans with repo operations or take a loan from the National Deposit Center at the rate of 15-16% per annum for up to 2 years. In this case, bondholders do not lose 5% of their income, and the actual interest rate on the loan they borrow falls by 9-10%.