ArmInfo. On April 6, Ardshinbank will put up for sale a tranche of registered, coupon, non-documentary AMD and dollar bonds in the amount of 3.3 billion AMD and $10 million. According to the issue prospectuses posted on the Central Bank's website, the initial placement of the dram tranche is scheduled to be completed on June 11, and the dollar tranche-on September 16.
The AMD tranche consists of 33 thousand bonds with a nominal value of 100 thousand drams each, with a coupon yield of 9.5% and a quarterly payment frequency. The maturity of the bonds of this issue is dated April 6, 2024.
The dollar tranche consists of 100 thousand bonds with a nominal value of $100 each, with a coupon yield of 5% and a semi-annual payment period. The maturity of the bonds of this issue is dated October 6, 2023. According to the issue prospectus, the decision on the issue and placement of these tranches was made by the Board of Ardshinbank on September 22, 2020, and the decision of the Board of the bank was followed on March 26, 2021.
It is appropriate to note that the previous tranche of AMD bonds with an issue volume of 5 billion and a coupon yield of 10% was issued on February 15, 2021, and its initial placement was scheduled to be completed on April 16. According to the Armenian Stock Exchange AMX, as of March 31 this year, 10 tranches of Ardshinbank bonds are listed on the exchange: 3 AMD bonds in the amount of 7.5 billion drams and 7 USD bonds in the total amount of $38.750 million. The maturity of the bonds is 27, 30 and 36 months. The yield on the coupon of AMD bonds is set at 10.5% and 9.75%, and dollar bonds - at 5.5-4.95%. Coupon payments are made once a quarter. The maturity of dram issues expires in 2022 (June, October) and 2023 (March), and dollar issues - in 2021 (September), 2022 (January, March, October) and 2023 (January, February, March).
Ardshinbank is the first private company in Armenia to issue Eurobonds on the international capital markets. The first issue of $ 75 million was made in 2014. The second one, worth $ 100 million, was held in June 2015. And on June 30, 2020, the five-year Eurobonds of Ardshinbank in the amount of $300 million, issued in January 2020, started trading on the Armenian Stock Exchange AMX. on the international capital market by Dilijan Finance B. V, and these Eurobonds are currently listed on the AMX Exchange and the Irish Stock Exchange (Euronext Dublin).
According to the Financial Rating of Armenian Banks as of January 1, 2021, prepared by the IC ArmInfo, Ardshinbank holds the lead in terms of funds raised from the placement of its own bonds - 177 billion drams ($339 million), or more than 41% of the total market volume. In annual terms, Ardshinbank provided a significant increase in this indicator - 16 times, and an impressive jump occurred during the rplacement of a large tranche of five-year Eurobonds (with an issue volume of $300 million and a coupon yield of 6.5%).
Recall that Ardshinbank was founded in 2003. As of July 1, 2020, the majority shareholders of Ardshinbank are Arins Group LLC (formerly known as Business Investment Center LLC) with a 67.97% share in the capital and Industrial and Financial Corporation REGION CJSC-29.52%. Ardshinbank is one of the leading banks in Armenia with a wide network of branches and modern mobile banking capabilities. The Bank is rated by the international rating agencies Moody's and Fitch, which corresponds to the level of the country rating of Armenia. At various times, various professional magazines and analysts have recognized the bank as the best bank in Armenia, the bank of the year and the most reliable bank.
