Friday, June 28 2013 16:12
Araratbank announces trading for six issue of USD bonds and to shortly place seventh issue of AMD bonds
ArmInfo. Araratbank has announced trading for the six issue of its USD bonds and from June 1 till 19 2013 will place the seventh issue of AMD bonds. The AMD bonds will cost 10,000 AMD each and will have a circulation period of three years.
During a press-conference at NASDAQ OMX Armenia Deputy CEO of Araratbank said that the market maker of the bonds is Renesa. The receipts will be spent on SME development.
As regards the sixth issue of USD bonds, the demand for it was 30% higher than the offer. As many as 123 investors (mostly individuals) were involved in their placement. "If the market situation is good, this autumn we will issue more USD bonds wroth $2mln," Harutyunyan said.
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%).