Wednesday, March 31 2021 10:44
Karine Melikyan

Ardshinbank on April 6 will put up for sale a tranche of AMD and  dollar bonds in the amount of 3.3 billion drams and $10 million

Ardshinbank on April 6 will put up for sale a tranche of AMD and  dollar bonds in the amount of 3.3 billion drams and $10 million

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.

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