SOCAR bonds make up almost 1/4 of Azerbaijan`s bond market

12:41 - 17.01.2019


January 17, Fineko/abc.az. The 9th payment of interests on SOCAR bonds has been carried out.

SOCAR Capital reports that thus, total income of the bond owners increased up to $11.25 million.

"In the coming quarters of the year, interest payments on SOCAR bonds, turnover of which will continue until 2021, will be made 11 times more. Due to that, the bondholders will earn an additional $13.75 million (totally $25 million)," the Company said.

Total amount of $1.25 million ($12.5 million for each bond) was transferred to the account of the National Depository Center (NDC) at the Central Bank of Azerbaijan for the week ahead, and these funds will be on bondholders’ bank accounts from today.

"Currently, total volume of operations on SOCAR bonds in the secondary market exceeded $170 million at the Baku Stock Exchange (BSE).

In 2018, more than 800 transactions took place. As a result of high demand, the market price of SOCAR bonds increased up to $1,045 on 16 January for the first time. The share of SOCAR bonds made up 24% in the total bond market of the country and 87% in the market of corporate bonds in 2018," SOCAR Capital said.

The next payment of interests on the bonds will take place on 17 April.

 

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