Baku, January 17, AZERTAC
The 9th coupon payment of SOCAR bonds with annual yield of 5% and quarterly payments has been executed, totalling the income of bondholders up to 11 million 250 thousand USD. In the upcoming quarters 11 coupon payments are still outstanding as income for the bondholders with amount totalling to 13 million 750 thousand USD (grand total of 25 million USD).
According to “SOCAR Capital”, coupons on SOCAR bonds totalling $1.25 mln - $12.5 per bond has been transferred to the bank account of the National Depository Centre (NDC) at the Central Bank one week earlier, and today these funds will be available in the bondholders’ bank accounts.
The main advantages of SOCAR bonds are repurchase guarantee by SOCAR at the nominal amount, simple sale and purchase transactions, payment of coupons on timely basis and high liquidity. The secondary market transactions on SOCAR bonds have exceeded amount of 170 million USD since the emission and currently it is the security with highest liquidity in the local stock exchange with over 800 trades executed in 2018. Due to high demand, the market maker prices have risen to 1045 USD per bond on January 16th.
SOCAR bonds, which can be purchased from ASAN Service Centers No. 1 and 5, make up 24% of the total share of the country's total bond market and 87% of the corporate bond market.
Next coupon payments will be executed on April 17th, it was reported.