Friday, June 14 2013 20:18

Araratbank issues nominal coupon AMD bonds worth 400mln AMD


ArmInfo. Araratbank has issued 40,000 nominal coupon AMD bonds worth 400mln AMD. The circulation period of the bonds is 3 years, the yield is 13%, the coupon payments are to be made each quarter.

CEO of Araratbank Ashot Osipyan told journalists on Friday that the bonds will be placed July 1-19 2013. This is the sixth corporate bond issue and the fifth AMD bond issue. The bonds will shortly be listed at NASDAQ OMX ARMENIA. The previous USD bonds issue was in high demand. Over 120 entities applied for them, of whom only 4 were legal entities.

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%).

The majority shareholders of Araratbank are Flash LLC (69.24%), EBRD (25%+1) and Rural Impulse Fund II (5%).
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