Monday, February 15 2010 15:04
Elite Group repays corporate bonds in the amount of 131.4 million drams
ArmInfo.Armenian developer Elite Group CJSC repaid its first-issue corporate bonds in the amount of 131.4 million drams on February 12 2010. As part of the given issue dated February 2009, the company placed 131375 bonds with 10.5% annual yield and 730 days maturity.
Earlier, Elite Group President Armen Mkoyan told ArmInfo that the company is expected to enter the capital market with the third-issue of corporate bonds by spring. In the long-term outlook the company may make public offering. A. Mkoyan said that in the market of corporate bonds Elite Group has maintained reputation of a reliable partner and keeps on actively working to strengthen its image. "It was the first and necessary step for the company. The next stage will be IPO."
By data of NASDAQ OMX Armenia, transactions with corporate bonds "Elite Group" for the period of circulation in the stock exchange (Feb 13 2008 - Feb 12 2010) amounted to 105.8 million drams (nearly 60 transactions).
The second-issue bonds of the company are listed at NASDAQ OMX Armenia. The company provided the third-issue of corporate bonds in October 2008 in the amount of 868.6 million drams, with 11% annual yield and 730 days maturity. The second-issue bonds repayment is scheduled for October 13 2010.