Monday, January 20 2014 14:46
Armenian Eurobonds to be listed at NASDAQ OMX Armenia
ArmInfo. Armenian Eurobonds will be listed at NASDAQ OMX Armenia, CEO of NASDAQ OMX Armenia Konstantin Saroyan said during the Best Member Awards 2013 in Dilijan.
He specified that the bonds will be listed and put into circulation in Q1 2014. This will be the first issue of Armenian Eurobonds. The amount of the issue will be $700mln, the yield 6%, the maturity 7 years.
"Eurobonds must be accessible not only to foreign investors but also to ordinary citizens and companies in Armenia," Saroyan said, noting that Eurobonds are traded by international clearing systems, where the minimum amount per one deal is $200,000.
According to Saroyan, this year NASDAQ OMX Armenia will list not only Eurobonds but also AMD bonds issued by international organizations acting in Armenia.
In late Dec 2013 the IFC issued AMD bonds worth 2mln AMD. Some unofficial sources say that the EBRD is also going to issue bonds.
This year NASDAQ OMX Armenia will also work to attract portfolio investments. For this purpose the Central Depositary of Armenia (CDA) will continue its integration with foreign depositaries. Head of the CDA Vahan Stepanyan said that Armenia is already mature for such processes due to pension reforms and Eurobonds.
Saroyan said that this year, jointly with Armenia's Finance Ministry, NASDAQ OMX Armenia is going to finish the project to develop an Internet platform for treasury bond transactions. This project is supposed to give ordinary citizens access to high-yield government bonds. In 2014 NASDAQ OMX Armenia is also planning to launch the Genium INET platform. One of the long-term plans is to introduce IOSCO and ISO 27000 standards with a view to integrate with foreign exchanging markets.
In 2014 NASDAQ OMX Armenia will invest a total of $100,000 in the above-mentioned projects due to the profit earned in 2013.
Saroyan said that the past year was a year of achievements for both NASDAQ OMX Armenia and the CDA: they launched a new centralized depositary system, developed their integration with foreign depositaries, introduced exchange swap trading mechanisms, created an Armenian page in Bloomberg and Reuters, launched AMPIS (Armenian Mandatory Pension Information System), opened a personal account in Clearstream Banking Luxembourg.
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