SOCAR to issue domestic and foreign bonds this year

SOCAR to issue domestic and foreign bonds this year
# 01 March 2013 14:44 (UTC +04:00)

According to him, previous issuance of Eurobonds allowed coming to a positive conclusion. Firstly, interests of purchasers showed high demand for these securities, on the other hand, the high demand allows SOCAR reducing the YTM of bonds to the profitable level. So, SOCAR’s Eurobonds were placed with the YTM of 5.4% when the average YTM in European bond market made 7.4%. And now, this figure dropped to 2.6%: “This indicates that the investors have confidence in SOCAR”, Abdullayev added.

SOCAR President says the company already intends to realize the financing of some priority projects fully or partly through issuance of bonds. Along with this, domestic bonds may be issue in 2013.

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THE OPERATION IS BEING PERFORMED