SOCAR makes second interest payment on green bonds totaling $3M

The State Oil Company of Azerbaijan (SOCAR) has transferred $3 million to bondholders as part of the second interest payment on its green bonds, Report informs, citing SOCAR Capital.

Issued on January 15 this year, the green bonds were introduced to support Azerbaijan's strategic efforts in the renewable energy sector and have attracted strong interest from investors.

Since March 7, when secondary market trading of the bonds began, over 370 transactions totaling $16 million have been executed on the Baku Stock Exchange (BSE), contributing to renewed activity in the domestic capital market.

To date, approximately $81 million worth of SOCAR green bonds have been traded on the BSE, across 1,475 transactions-accounting for 53.5% of all corporate bond trades on the exchange.

Since the initial issuance of SOCAR bonds in 2016, the company has paid a total of $47.875 million in interest to citizens and investors.