Next interest on SOCAR bonds paid
On July 17, 2019, the interest payment on SOCAR bonds was made. In this regard, $12.5 interest for each bond was distributed among bondholders, which in total equals to $1.250.000. Thus, the income of the bondholders in total has reached $13.750.000. Moreover, more than half of total coupon payments for SOCAR bonds with 5 year maturity have already finished.
The annual yield of bonds with a nominal value of $ 1.000 is 5%. Interests are paid every 3 months. It is worth mentioning that the National Depository Center acts as a Paying Agent for coupon payments of SOCAR bonds.
The main advantages of SOCAR bonds are SOCAR’s warranty for repurchasing at nominal value, high liquidity, convenience of transactions and provision of interest payments in due time based on established schedule. Thus, the total amount of the secondary market transactions on these bonds has already exceeded $175 mln. These securities are currently the most frequently traded debt securities at Baku Stock Exchange.
The next interest payment for this year is expected to be made on October 17.