Monday, July 6 2020 14:59
Karine Melikyan

Fast Credit Capital UCO will start placement of its dram and dollar  bonds on July 9

Fast Credit Capital UCO will start placement of its dram and dollar  bonds on July 9

ArmInfo.  On July 9, "Fast Credit  Capital" Universal Credit Organization (UCO) will start issue and  placement of its dram and dollar bonds with issue volumes of 400  million drams and $ 4 million, respectively. This is evidenced by the  July 3 decision on registration of the issue prospectus of these  tranches, posted on July 6 on the CBA website.

According to the source, these are registered, coupon,  non-documentary bonds, which, in the framework of dram (AMFSCRB23ER3)  and dollar (AMFSCRB24ER1) tranches, will be issued in the amount of  40 thousand each. The nominal value of dram bonds is set at 10  thousand drams each, and dollar bonds - $ 100 each. The y-o-y yield  on the coupon of dram bonds is 10%, and dollar - 6.5%. The coupon  payments are made once every six months. The maturity of the bonds of  these two tranches is 36 months. Armswissbank will act as the  underwriter and market maker of these issues, according to an  agreement concluded with Fast Credit Capital UCO on January 14, 2020.

The issue prospectus states that during the placement 36 thousand  bonds of dram tranche and the same amount of dollar tranche will be  placed on the Armenian Stock Exchange -AMX, and the remaining 4  thousand bonds from each tranche will be acquired by the market maker  at the average weighted price formed during the auction.

As  Head of Treasury at Fast Credit Capital UCO CSJC Edmond Eloyan   told ArmInfo, the funds raised from the placement of these bonds are  planned to be used for consumer lending, mortgage lending,  micro-business financing, and agricultural lending. To the question  of ArmInfo, to which direction the majority of the funds raised from  the placement of bonds would go, he replied that the main emphasis  would be placed on consumer loans and mortgages.

According to the ranking of credit companies of Armenia prepared by  ArmInfo IC, as of March 31, 2020, the assets of Fast Credit Capital  UCO amounted to 43.6 billion drams ($ 86.5 million). In the structure  of the company's assets, the share of credit investments accounts for  over 86% or 37.6 billion drams ($ 74.5 million). In terms of assets  and volume of credit investments, "Fast Credit Capital" UCO is  included in TOP-5 universal credit companies of Armenia.

The total capital of the company is 10.7 billion drams or $ 21.2  million (7th position among the UCOs).  Fast Credit Capital completed  the Q1 of 2020 with a net profit of 965.1 mln drams or $ 1.9 mln,  taking the second position in the UCO market by this indicator. In  y-o-y terms, the company increased its net profit by 83%, total  capital - by 95.1%, assets - by 30.4%, credit investments - by 18%.  The company increased its total liabilities in y-o-y terms by 17.7% -  up to 32.9 billion drams or $ 65.2 million, having maintained in  TOP-5 by this indicator with a rise to the 4th position. In the  structure of the company's liabilities, about 68% is accounted for  other loans received from the money market, and loans and credits  attracted from banks / financial organizations account for about 19%,  with a y-o-y  increase in the absolute value of the first one by  15.5% and a decline of the second one -by 14.1%. As of April 1, 2020,  the accumulated profit of Fast Credit Capital amounted to 3.4 billion  drams or $ 7 million (the 7th position in the UCO market), with a  y-o-y growth of 54.6%.

It should be noted that "Fast Credit Capital" UCO was registered with  the Central Bank of Armenia on October 14, 2011. The authorized  capital of the company, amounting to 7 billion drams (4th position in  the UCO market), consists of 1.4 million common shares. The holders  of a 100% block of shares are Badalyan Vahe and Badalyan Vigen with  equal 50% shares. The branch network of the company has 24 divisions,  of which 11 are located in Yerevan and 13 in different regions of  Armenia. 

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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