SOCAR Turns to Domestic Market of Securities for First Time

Starting from September 20, Oilmen’s Day, SOCAR will place corporate bonds with annual yield of 5% through mass supply.

Placement of corporate bonds with par value of US $ 1,000 will be carried out through the Baku Stock Exchange. At the same time, investors will be able to apply to the centers №№ 1 and 5 of ASAN Khidmet, as noted in the special website (http://socaristiqraz.az/) of SOCAR.

In the investment company Tekhnika Capital Turan was told that SOCAR most probably intends to place bonds for a total amount not less than $ 100 million in the market. The maturity period is 3-5 years.

‘SOCAR has extensive experience in placing securities with a yield not less than 5% in the European stock markets. Currently, commercial banks’ interest rate on dollar deposits is 3%. Therefore, you can expect a high interest of investors in SOCAR securities,’ said an analyst from Tekhnika Capital.

SOCAR plans to hold a presentation of the bonds on September 16.

SOCAR expects the completion of the placement of the securities until October 10 of this year. The interest payments will be made quarterly.    -----08B