SOCAR Capital makes coupon payments on bonds of state oil company

State Oil Company of Azerbaijan Republic (SOCAR) Capital has made the sixth coupon payment on SOCAR bonds with a nominal value of $1,000, a maturity of five years, an annual yield of 4.5 percent and quarterly payment of coupon income, SOCAR Capital told Trend.

According to the results of the sixth coupon payments, the new SOCAR bonds, which became the most investment-attractive security for the 18-month period of placement on the Baku Stock Exchange, brought their owners an income of $1.1 million.

"Thus, the total income of bondholders has grown to $6.7 million (on expiry of a five-year circulation period, the total amount of income will be $22.5 million). An indicator of the high demand for SOCAR bonds is that the volume of transactions on the secondary market exceeded $32 million, the number of transactions reached 450, and the bonds retained the status of the best-selling corporate financial instrument. SOCAR bonds, which can be purchased at ASAN Service centers (No.1 and 5), as well as in all investment companies registered in Azerbaijan, have high liquidity, and their price does not fall below the nominal value ($1,000)," SOCAR Capital said.

The next coupon payments on SOCAR bonds will take place on August 1, 2023.

Source: Trend News Agency