SOCAR allocates $120M to Palmali

Home page Economy
12 Punto 14 Punto 16 Punto 18 Punto

SOCAR has allocated $120 million credit to Palmali International Holding Co Ltd.

The period of credit will be terminated on December 31, 2021. 1-year LIBOR makes +4.5

As of December 31, 2021, the carrying amount of the receivable on loan granted to Palmali, is AZN 122 mln.

In accordance with the Share Pledge Agreement and Corporate Guarantee dated 7 October 2009, signed between the Group and owners of Palmali, the latter pledged 340 shares out of total authorized and issued 514 shares and any related equity interests in Palmali as a security for its obligations under the abovementioned loan agreement. In addition, Palmali has assigned in favour of the Group all of its rights and interests in all proceeds and funds received or receivable by Palmali under the transportation services agreement signed with one of the Group subsidiaries on 20 March 2008 in relation to transportation of crude oil and oil products. The above security arrangement shall remain in force until Palmali fully repays its liabilities to the Group.

2016.07.01 / 15:57
See also

Oil prices fall

The final price of oil

Azerbaijan currency rates

Azerbaijan considers the continuation of OPEC+ plan fair

Azerbaijan currency rates

Azerbaijan currency rates

Oil is rapidly falling in price

Azerbaijan currency rates

Oil prices have increased

Azerbaijan currency rates

Xocalı soyqırımı — 1992-ci il Bağla
Bize yazin Bağla