Monday, July 20 2020 20:25

ArmInfo. On July 22, IDBank will  start the primary placement of the next tranche of dollar bonds in  the amount of $ 5 million. According to the issue prospectus of this  issue posted on the Central Bank's website, completion of the primary  placement of this tranche is scheduled for October 20. 

Among IDBank's dollar bond issues, this will be the 8th.  According  to the issue prospectus, the circulation period of the bonds of this  issue (AMANLBB2AER1) is set at 27 months, the y-o-y annual coupon  interest rate is 4.75%, and the coupon payments are paid on a  quarterly basis. Within the framework of this tranche, 50 thousand  registered, coupon, non-documentary bonds will be issued, each with a  par value of $ 100 

The maturity of the bonds of this tranche expires on October 22,  2022. The decision on this issue was made by the Council of IDBank on  March 20, 2020, and the Bank's Board - on July 16.  It should be  noted that as of July 20, 4 tranches of IDBank bonds are in  circulation on the AMX Armenia Stock Exchange: three dollar tranches  in the total amount of $ 15 million and one dram in the amount of 250  million drams.  The maturity of these tranches expires in 2021-2022:  two dollar tranches in 2021 (January and August), and the remaining  one dollar and one dram tranche in 2022 (February 7).

To recall, IDBank for the first time in its history issued coupon  bonds in December 2016, the issue volume of which amounted to $ 5  million, with a circulation period of 2 years. The y-o-y yield on the  first dollar issue of IDBank bonds was 6.5%, and already on the  seventh issue - 5%. With dram tranches of IDBank's bonds, the yield  on the first issue (in the amount of 1 billion) was 12.25%, and on  the second (in the amount of 250 million) - 9.5%. Bonds of all dollar  issues of IDBank were quoted on the stock exchange in the main list  of Abond, and the first dram tranche was quoted in the same list, and  the second dram tranche in the Bbond list.

To note, IDBank has been operating in the Armenian market since  October 1996. The Bank's shareholders are: the Cypriot company  FISTOCO LTD with a 59.68% share and the Lebanese CreditBank S.A.L -  40.32%. Individuals Tarek J. Khalefe (CreditBank S.A.L) and Vartan  Dilanyan (FISTOCO LTD) are indirect majority shareholders.