SOCAR breaks record on bonds

By Trend

The selling price of bonds of the Azerbaijani State Oil Company (SOCAR) in circulation for more than three years in the secondary market rose to $1,050, and a sale transaction has already been completed, Trend reports with reference to SOCAR.

“This indicator is the highest since the issuance of bonds. The previous record high was $1,046,” SOCAR stated.

According to SOCAR Capital, the main reason for such a rise in bonds is high demand and liquidity.

At the same time, making quarterly interest payments on schedule is also another important factor that meets the interests of investors, SOCAR Capital added.

SOCAR bonds, the maturity of which will last until 2021, have brought their owners $16.25 million in revenue so far.

The volume of operations carried out on the secondary market of SOCAR bonds is currently $187 million and 2,100 transactions have been concluded.

SOCAR bonds, the total issue amount of which is $100 million, generating 5 percent annual income and interest on which are paid every three months, can be purchased at ASAN Service Centers No. 1 and 5.

The next interest payment on SOCAR bonds, which is the most traded corporate financial instrument on the Baku Stock Exchange (BSE), will be held on April 17, 2020, said the company.