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BAKU, Azerbaijan, Apr. 16
By Fidan Babayeva – Trend:
The next payment of coupons on SOCAR bonds will take place on July 17, 2021, a source in SOCAR Capital told Trend.
According to the source, the next interest payment of $1.25 million on SOCAR bonds which has a par value of $1,000, maturity of 5 years, yield of 5 percent per annum and payment of interest on quarterly schedules will be transferred to the bank accounts of bondholders on April 19, 2021, since April 17 will be non-working day (in accordance with the release terms, payment will be executed the next first working day).
SOCAR bonds, which have become the most sought-after security by investors for more than 4 years, will again bring their owners $1.25 million as a result of 18 percent coupon payment in the second half of 2021. Thus, the total income of bondholders will increase to $22.5 million (in total, $25 million).
The volume of transactions in the secondary market for bonds reached $200 million, the number of transactions exceeded 2,400, and the bonds became best-selling corporate financial instrument on the Baku Stock Exchange (BSE), which shows the high demand for them.
In the first quarter of 2021, the share of SOCAR bonds, which can also be purchased at ASAN centers, in the country’s corporate bond market amounted to 62 percent.
SOCAR Capital’s main tasks are: ensuring access to capital markets for SOCAR Group companies through alternative financial instruments; ensuring that all investors, especially Azerbaijani citizens, have a direct share in SOCAR’s revenues; directing non-active funds to profitable sectors of the economy by creating new alternative investment opportunities; supporting the sustainable development of Azerbaijan’s financial markets.
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Follow the author on Twitter: @Fidan_Babaeva
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