Financial Market Supervisory Authority (FIMSA) is a public legal entity and independent in its operations. FIMSA is in charge of licensing, regulation and supervision of the credit institutions, insurance sector and securities market.
09 september 2016, 22:43
Financial Market Supervisory Authority registered the issue of US $ 100 million worth bonds by SOCAR
September 9, 2016; Baku - On September 6, 2016, the Financial Market Supervisory Authority (FIMSA), registered issuance of 100 000 interest-bearing, undocumented, unsecured bonds with a nominal value of US $1,000 by the State Oil Company of Azerbaijan (SOCAR) and approved their issue prospectus.
The circulation period of the bonds with the aggregate nominal value of US $ 100 000 000 is 5 years and an annual interest rate is 5%. The SOCAR bonds’ subscription will take place from 20 September to 10 October 2016 and the placement of the bonds at the Baku Stock Exchange will be conducted on October 13-14, 2016.
Considering the numerous requests for clarification received by the FIMSA, we are warning that visual materials used in the communication campaign are not securities and used for advertising purposes only. Registration of accounts of owners of the bonds will be held by the National Depository Center.
We are reminding that the Financial Market Supervisory Authority was established by decree of the President of the Republic of Azerbaijan of February 03, 2016 to ensure the sustainability of the financial sector and to improve the supervision mechanisms in this area.
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