Tuesday, May 21 2013 16:26
Araratbank issues foreign currency bonds worth $1bln
ArmInfo. Araratbank has issued the sixth tranche of corporate foreign currency bonds worth $1bln with a yield of 8.5%, Deputy Executive Director of Araratbank David Harutyunyan told journalists on Monday.
He said that from May 23 till June 13 the bank is supposed to place 40,000 discount three-year bonds each worth $25.
"Our corporate bonds have high liquidity. Unlike deposits, which have a higher yield, they can be sold on the secondary market at any moment," Harutyunyan said.
CEO of NASDAQ OMX Armenia Konstantin Saroyan said that now that a new model of the central depository has been introduced, it has become easier for investors to place bonds: each emitter having the status of account operator on the stock market will now be able to place its issue in its own office. The market-maker of the bonds is Renesa.
Araratbank issued its first corporate bonds in 2007 (250mln AMD, one- year circulation period, 8% yield). The second issue made up 400mln AMD (1.5 years and 9%), the third one 250mln AMD (1.5 years and 10%). The fourth 250mln AMD tranche was issued in 2011 (with a 12% yield), the fifth $1mln tranche in 2012 (9%).
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