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The State Oil Company of Azerbaijan (SOCAR) intends to issue bonds in the total amount of $ 100 million this year.
According to Report, preparations have begun.
These are 100,000 bonds, each with a face value of $ 1,000, as in the first issue in 2016. They will be placed on the Baku Stock Exchange through a public offering. However, their annual yield will be 4.5%, that is 0.5 percentage points less than the bonds currently in circulation.
The securities will be in effect for five years, with the interest to be paid quarterly. SOCAR will buy them back at their face value during the period of circulation. The underwriter of the process will be PSG Capital Investment Company CJSC.
SOCAR's first domestic bonds expire in October next year. They have brought $ 25 million in revenue to their owners.
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