Wednesday, December 11 2019 16:40
Karina Manukyan

Ardshinbank December 16 will begin the initial placement of dollar  bonds in the amount of $ 5 million

Ardshinbank December 16 will begin the initial placement of dollar  bonds in the amount of $ 5 million

ArmInfo. Ardshinbank December 16 this year will begin the initial placement of non-documentary coupon dollar bonds in the amount of $ 5 million. As evidenced by the  emission prospectus posted on December 11 on the Central Bank's  website, 50 thousand bonds with a par value of $ 100 each, with a  coupon yield of 5.25% and a periodicity of payment of times are  provided to the quarter. The maturity date of the bonds of this issue  is dated March 16, 2022.

According to the prospectus, the completion of the initial placement  of bonds of this issue is provided for February 28, 2020. The  exchange code is AMASHBB25ER2.

Upon completion of the initial offering, the bonds will be listed on  the Armenian stock exchange AMX.  According to AMX Armenia, as of  December 11 this year, 3 tranches of Ardshinbank bonds are quoted on  the Armenian stock exchange: one dram in the amount of 1.5 billion  drams and two issues of dollar bonds in the amount of $ 15 million.  The circulation term of the dram bonds is 36 months, and the dollar -  27 months. The yield on the coupon of dram bonds was set at 10.5%,  and the dollar - at 5.5% and 5.4%, respectively. Coupon payments are  made once a quarter. The maturity of the dram issue is dated June 10,  2022, and two dollar ones - September 3, 2021 and January 10, 2022,  respectively.

Note that prior to this, Ardshinbank also placed its bonds on foreign  capital markets. In particular, the placement of the first issue took  place on December 9, 2014, the issue volume was $ 75 million, the  coupon yield was 12% with a quarterly periodicity of payment, and the  initial placement yield was 12%. The bonds of this issue have already  been repaid - the term has expired on December 9, 2017. This issue  was quoted on the Vienna Stock Exchange, and clearing was carried out  in the Euroclear and Clearstream systems. This was the first  transaction of a private Armenian company in international financial  markets after the debut issue of state eurobonds of Armenia in 2013.

The successful debut at the Vienna Stock Exchange inspired  Ardshinbank for a second more voluminous launch of its bonds already  on the Irish Exchange. The second issue, carried out in June 2015,  was larger than the first. This time the issue volume was $ 100  million, the placement was public, the coupon yield was 12% with a  semi-annual periodicity of payments. The maturity date of the second  issue bonds expires on July 29, 2020. The general manager of the  second bond issue of Ardshinbank, like the first, is investment bank  JP Morgan.

According to the Financial Rating of the Banks of Armenia as of  October 1, 2019, prepared by ArmInfo IC, the volume of funds raised  by Ardshinbank from the placement of its own bonds amounted to 25.4  billion drams ($ 53.4 million) or 13% of the total market.  Ardshinbank on this indicator at the reporting date is in TOP-3.

Recall that Ardshinbank was founded in 2003. The majority  shareholders of Ardshinbank as of October 1, 2019 are Arins Group LLC  (formerly referred to as Business Investment Center LLC) with a  67.97% equity stake and REGION Industrial and Financial Corporation  CJSC - 29.52%. Ardshinbank is the second largest bank in Armenia,  having one of the largest branch networks, consisting of 63 branches:  18 are located in Yerevan, 42 in the regions and 3 in Artsakh. The  Bank has a rating of international reputable rating agencies equal to  the country rating of Armenia, which is considered a high rating in  world practice.

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Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000

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