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The International Company of Azerbaijan SOCAR is going to issue new bonds for the domestic market, taking into account numerous requests and a strong demand from investors for a long period of time. SOCAR once again provides Azerbaijani citizens with a profitable and reliable investment opportunity. It’s previous bonds issued in 2016 achieved serious success in the securities market of our country, and has been retaining the status of the most traded corporate securities from the first day of trading in the secondary market to the present day.
The demand for the first bonds issued at amount of $100 million has more than doubled. The volume of transactions in the secondary market has beaten a record of $201 million. The five-year maturity of the initial bonds will expire in October this year, and bond holders will receive a total of $25 million.
The primary placement of SOCAR’s new bonds will be carried out by public offering in the form of subscription.
The bond subscription will be initiated on September 20, 2021, the date of celebration of the Oil Workers Day in our country, and continue until October 29. Citizens of our country, local and foreign legal entities registered in Azerbaijan as well as, foreigners residing in the Republic of Azerbaijan based on permanent or temporary permits and non-residents can take part in subscription. Priority in bond distribution will be given to individuals. Residents and legal entities of other countries will also be able to purchase bonds from bond holders in the secondary market.
According to the SOCAR Capital Company, SOCAR new bonds will be issued for a period of 5 years. The total volume of bonds is $100 million, at a par of $1,000. The annual rate is 4.5 % with interest income paid on a quarterly basis.
Bond subscriptions will be registered in SOCAR bond kiosks in ASAN Service centers No 1 and 5 as well as in investment companies carrying out activities in Azerbaijan.