Tuesday, July 12 2011 10:36

Demand for ARARATBANK's fourth bond issue was 25% bigger than offer


ArmInfo. During the placement of the fourth issue of ARARATBANK's bonds the demand was 25% bigger than the offer.

The press service of ARARATBANK reports that 25,000 nominal coupon bonds (each worth 10,000 AMD) were placed June 20-July 10 2011. The amount of the issue was 250mln AMD. 194 investors (11 legal and 183 physical entities) took part in the placement. The CB registration is scheduled for July 12.

The yield of the bonds is 12%, the circulation period - 2 years. The coupon payments will be made on a quarterly basis. The underwriter is ARARATBANK, the market-maker - Renesa investment company. The bonds will be listed at NASDAQ OMX Armenia as Bbonds.

Earlier Deputy CEO of ARARATBANK David Harutyunyan said that the money to be earned from the placement of the issue would be spent on micro business development.

According to ARARATBANK, the amount of transactions carried out with the first issue (2007) at NASDAQ OMX Armenia totalled 405mln AMD, the second issue (2008) - 265mln AMD, the third issue (2009) - 91mln AMD.

The amount of the first issue was 250mln AMD, the yield - 8%, the circulation period - 1 year, placed in May 2007 (25,000 each worth 10,000 AMD). The amount of the second issue was 400mln AMD, the yield - 9%, the circulation period - 1.5 years, placed in June 2008 (40,000 each worth 10,000 AMD). The amount of the third issue was 250mln AMD, the yield - 10%, the circulation period - 1.5 years, placed in Dec 2009 (25,000 each worth 10,000). All of the bonds were listed as Bbonds.

The majority shareholders of ARARATBANK are Flash, one of Armenia's largest oil traders (74.1%), and EBRD (25%+1). As of Apr 1 2011 the bank's capital totalled 10.8bln AMD, assets - 69.9bln AMD, loan book - 31.1bln AMD.
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