"Global Credit" UCO CJSC to place coupon bonds on Nasdaq OMX Armenia on November 24

ArmInfo. Today, during the  press conference held at NASDAQ OMX Armenia "Global Credit" UCO CJSC  announced the upcoming placement of the Company's bonds, the  press-service of Nasdaq OMX Armenia informs.  Mr. Karen Zakaryan,  Deputy CEO of NASDAQ OMX Armenia, Ms. Luiza Igraryan, Executive  director of "Global Credit" UCO CJSC, Mr. Aram Ghukasyan, Deputy of  Executive director and Mr. Vaghinak Saroyan, Executive Director of  "RENESA" CJSC were present at the press conference.  

Ms. Luiza Igraryan, Executive director of "Global Credit" UCO CJSC  introduced issuance goals and future projects, mentioning successful  outcomes of the bonds previous issue.   

Placement of the bonds will take place on November 24, 2016 through  the Exchange placement platform.    Issue of the Company's bonds will  include two tranches. The first tranche of bonds comprises 10,000  nominal coupon bonds for a total amount of USD 1,000,000, with  nominal value of USD 100, coupon rate of 9%, and maturity of 36  months. The second tranche of bonds comprises 20,000 nominal coupon  bonds for a total amount of AMD 200,000,000, with nominal value of  AMD 10,000, coupon rate of 14% and maturity of 24 months.  

Placement will be organized by "RENESA" CJSC, which will act as a  market maker after the listing of bonds.

Answering to ArmInfo's correspondent's question Igraryan stated that  the funds attracted from placement will be used for development and  introduction of new credit products particularly, new consumer loans  with minimal risk. 

After the first issue of bonds last year "GlOBAL CREDIT" UCO CJSC is  back to the market with new issues and increased volumes, which  indicates that the market is attractive both for issuers and  investors, said Mr. Karen Zakaryan, Deputy CEO of NASDAQ OMX Armenia. 

To note, GLOBAL CREDIT UCO CJSC is a universal credit organization  registered according to Resolution No. 267A as of 26.10.2010 of the  Central Bank of Armenia, established in consequence of amalgamation  of WASHINGTON CAPITAL universal credit organization CJSC and CREDIT  UNION universal credit organization CJSC, which also was enlarged as  a result of "GLOBAL CREDIT" UCO CJSC and "GFC GENERAL FINANCIAL and  CREDIT COMPANY UCO LLC union. Now the company is the legal consequent  of "Credit Union", "Washington Capital" UCO CJSC and "GFC General  Financial and Credit Company" UCO LLC. 

RENESA CJSC has been established on 26.03.2001. On 27.06.2008 the  Company was reregistered and re- licensed by the CBA as an investment  company. The Company has been a member of Stock Exchange since  24.01.2002. Starting from 11.12.2008 RENESA is also a member of the  Securities Accounting System.