Evocabank starts primary offering of AMD, USD bonds

ArmInfo. On March 28, Evocabank will start the primary offering of AMD bonds to the amount of AMD 2bln and USD bonds to the amount of $10mln, according to the  prospectuses available on the official website of the Central Bank of  Armenia. The offering is scheduled for June 28, 2022. 

A total of 200,000 bonds with a par value of AMD 10,000 each will be  issued as an AMD tranche (AMPROMB26ER3), and 100,000 bonds with a  part value of $100 each will be issued as a USD tranche  (AMPROMB25ER5). The coupon yield is 11% for AMD bonds and 5% for USD  bonds, with coupon payments. The retirement of bonds is scheduled for  September 28, 2024. The Evocabank Board approved the issues on March  17, 2022.  

Those wishing to purchase the bonds can transfer money to the  corresponding accounts at Evocabank:  1660043150805500 for the AMD  tranche, and 1660043125094401 for the USD tranches.

On March 23, 2022, four Evocabank-released bond tranches are listed  on the AMX: 2 AMD tranches to the amount of AMD 1bln and 2 USD  tranches to the amount of $10mln. The AMD bond yield is 10% and thee  USD bond yield is 5%. The bond life is 30 months, with quarterly  coupon payments. The bank issued the bonds on March 2 and 23, 2021,  with their listing dated April 8 and 22 respectively. The bonds are  listed as Bbond, with their retirement scheduled for 2023 (September  2 and 25 respectively).  

According to the ArmInfo ranking of Armenia's banks, by December 31,  2021, the Evocabank assets had totaled $511.8mln, with its total  capital exceeding $70.3mln. In 2021, the bank's profits totaled  $.2.3mln.  The bank's regulatory capital had totaled AMD 34.5bln or  $17.9mln (with the required minimum of AMD 30bln). In 2021, after a  one-year interval, the bank attracted a total of AMD 5.8bln  ($12.1mln) from a bond offering - 8% as much as in 2020. 

Evocabank launched its activities in Armenia in 1990. By January 1,  2022, Mareta Gevorgyan had been Evocabank majority shareholder  (95.9%).