SOCAR makes $1.125M coupon payment to bondholders

The State Oil Company of Azerbaijan (SOCAR) has made the 19th coupon payment on its $100 million bond issue launched on November 1, 2021.

According to Report, citing SOCAR Capital, $1.125 million was transferred to bondholders' accounts today as part of the 19th coupon payment.

Following the previous 18 payments, investors had received a cumulative $21.375 million in coupon income. Total interest payments over the five-year term will reach $22.5 million.

To date, 1,784 transactions worth $132 million have been executed in SOCAR bonds on the secondary market.

The 20th and final coupon payment is scheduled for November 2026.

The bonds were issued through an auction on the Baku Stock Exchange on November 1, 2021. The unsecured, registered, book-entry bonds, with a total value of $100 million, have a five-year maturity.

The bonds carry an annual 4.5% coupon rate, with quarterly interest payments of $1.125 million. The issue consists of 100,000 bonds with a face value of $1,000 each..