From 15 January the State Oil Company (SOCAR) will issue ‘Green Bonds’.This is reported by SOCAR.
Note that the total amount of the issue is $200 million, the report says.
Until the end of February one can subscribe for bonds with nominal value from $1,000 to $200,000.
The securities will be in circulation for 5 years. They are promised a yield 1.5 percentage points higher - 6% per annum - than the regular bonds currently in circulation. Interest will be paid every 3 months. Underwriter for placement is the investment company ‘Pasha Kapital’.
The funds derived from the sale of the bonds will be used for SOCAR Green's renewable energy projects, thereby supporting Azerbaijan's green energy initiatives.
‘SOCAR intends through this issue to contribute to and accelerate the development of clean energy sources,’ the statement said.
Recall that SOCAR carried out the first bond issue for domestic capital markets in 2016 and the second in 2021. Amount of each of these issues totalled $100 million.
Finance
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On January 10, President Ilham Aliyev signed an order to dismiss Finance Minister Samir Sharifov. He had held this position since 2006.
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The Central Bank of Azerbaijan (CBA) has changed the ‘Procedure for purchase and sale of foreign currency between the Central Bank and banks’, which it approved on 15 November 2022.
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In 2024, the economic growth in Azerbaijan made up 4.6%; it is expected that in 2025-2026 this index will make up an average of 3%.This is stated in the UN report ‘World economic situation and prospects 2025’.
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In 2024, total turnover of 12 investment companies-members of ‘Baku Stock Exchange’ (BSE) was about AZN 105.3 billion.This is reported by the BSE.
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