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.
