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Subscription to SOCAR’s bonds starts today

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Subscription to new bonds of the State Oil Company of Azerbaijan (SOCAR) starts today and will continue until October 29, Report informs.

Securities can be purchased by both citizens of the country and foreign legal entities registered in Azerbaijan. Preference will be given to individuals (foreign individuals and legal entities will also be able to buy from bondholders in the secondary market).

SOCAR bonds can be obtained from the kiosks established in the “ASAN service” centers 1 and 5, as well as by applying to investment companies operating in Azerbaijan. The process will cover all investment companies, except for Plato Capital and Co. Investment Company.

This is the second domestic bond emission of the SOCAR inside the country. For the first time in 2016, the company issued 100,000 bonds ($100 million) with a face value of $1,000 each. The securities were placed on the Baku Stock Exchange through a public offering. Bonds issued for 5 years and maturing next month have an annual yield of 5%. Interest is paid quarterly.

This time the bond emission will be carried out on the same terms. Only the annual yield of bonds will be 0.5 percentage points less – 4.5%.

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