Subscription to SOCAR bonds starts


September 20, Fineko/abc.az. The subscription to the new bonds of the State Oil Company of Azerbaijan (SOCAR) begins today.

ABC.AZ reports that the subscription to SOCAR bonds will last until 29 October.

Citizens of the country, domestic and foreign legal entities can participate in it. The advantage in the placement process will be given primarily to individuals. Foreign individuals and legal entities will be able to buy bonds from bondholders on the secondary market.

It will be possible to buy these securities at kiosks established in ASAN Service centers number 1 and 5, as well as in investment companies operating in Azerbaijan, with the exception of Plato Capital and Co.

This is the second issue of SOCAR bonds in the country. For the first time in 2016 the company issued 100,000 bonds with nominal value of $1,000 each ($100 million). The securities are placed by public subscription at the Baku Stock Exchange CJSC. The annual yield of five-year bonds, which expire next month, is 5%. Interests are paid quarterly.

The new SOCAR bonds will be issued on the same terms, but the interest rate on them will be 4.5% per annum.