SOCAR made the 15th interest payment to holders of new bonds for $100 million

The State Oil Company of Azerbaijan (SOCAR) on August 1 made another, 15th payment of $1.125 million in interest to holders of new SOCAR bonds worth $100 million, placed in November 2021.

This was reported by BAKU.WS with reference to SOCAR's statement.

"On August 1, SOCAR bondholders were paid interest totaling $1.125 million. These funds were transferred to the bank accounts of bondholders. Thus, the total income of bondholders has reached $16.875 million. After 5 years, the total income will amount to $22.5 million," the information states.

According to the company, since the issuance, the volume of transactions with SOCAR corporate bonds on the secondary market has amounted to $76 million, and the number of purchase and sale transactions of these securities on the Baku Stock Exchange has reached 1,430.

In total, since the issuance of bonds in 2016, SOCAR has paid citizens and investors $44.875 million in interest

As previously reported, on November 1, 2021, an auction for the placement of interest-bearing, unsecured, non-documentary registered SOCAR bonds with the state registration number AZ2002019894 in the amount of $100 million with a circulation period of 5 years was completed on the Baku Stock Exchange. The volume of applications submitted was $380.614 million. The coupon rate is 4.5%, with interest payments made quarterly. The issue is divided into 100 thousand bonds with a nominal value of $1 thousand per security. On November 2, SOCAR bonds were placed on the secondary market through the BSE trading platform.