BRIEF: SOCAR's Eurobonds cost grew by 10.2% in a year
Jan 19, 2013 (Trend News Agency - McClatchy-Tribune Information Services via COMTEX) --
The issue price of SOCAR's (State Oil Company of Azerbaijan) Eurobonds grew by 10.2% to 110.2% of face value last year and by 8.9% (101.2%) since the rating of this issue.
This is stated in the January issue of Moody's report "High Yield Interest -- European Edition".
The first rating of this issue was worth $ 500 million and was given by Moody's on January 27, 2012.
According to Moody's, SOCAR's Eurobond yields fell from 5.18% at the beginning of the year to 2.79% per annum by year's end. Fixed income declared upon issuance was at 5.45%.
On February 2, 2012, SOCAR successfully completed placement of its debut issue of Eurobonds in London. The placement of Eurobonds generated great interest among investors. The total volume of orders made by 290 investors totaled $ 4.6 billion.
The maturity date of the primary issue of these Eurobonds is February 9, 2017. Eurobonds are issued on the basis of "Regulation S" of the U.S. Securities Act.
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Tags: SOCAR, Moody's
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