ArmInfo.On September 8, Araratbank will put up for sale the next tranche of dollar bonds for $3 million, and the primary placement of this issue is planned to be completed no later than December 8. This is noted in the issue prospectus posted on the website of the Central Bank of Armenia.
As part of this issue (AMARBKB2NER1), 120,000 nominal, coupon-non-documentary bonds will be issued, ach with a nominal value of $25. The coupon yield is set at 4.25%, and the frequency of coupon payments is provided once a quarter. Full repayment of the bonds of this issue will is scheduled for December 8, 2024.
It should be noted that the cooperation between the Armenia Securities Exchange and the Central Depository of Armenia with Araratbank began in 2007. The Bank has become a link between citizens and the Depository, in particular acting as an intermediary in the process of maintaining the register and custody, including registration and protection of ownership of securities. Close cooperation between Araratbank and the Armenia Securities Exchange is expanding every year, proof of this is the annual competition on the AMX, during which Araratbank is regularly awarded the title of winner in key categories.
According to the Financial Rating of Banks of Armenia as of December 31, 2021, prepared by ArmInfo IC, ARARATBANK is in the TOP-5 in terms of funds raised from the placement of its own bonds with a volume of 13 billion drams ($27.1 million).
It should be reminded that ARARATBANK OJSC has been operating since November 2005. As of January 1, 2022, the majority shareholders of ARARATBANK are one of the largest oil traders in Armenia - "Flash" company with 72.73% share in the capital,and Barsegh Beglaryan (well-known entrepreneur, head of "Flash") - 22.62%.
