Araratbank does not exclude opportunity of emissions of currency bonds

16.12.2009 10:44
Araratbank does not exclude opportunity of emissions of currency bonds

YEREVAN, December 15. /ARKA/. “Armenian Araratbank does not exclude the opportunity of emissions of currency bonds in the absence of relevant legislative limitations”, said Garik Adamyan, Head of Department of Strategy and Methodology of the Bank.

“If the legislation will allow and there will be demand of currency bonds in securities market, Araratbank will submit such a proposal”, said Adamyan. In the securities market of Armenia the frozen situation in the middle of the year has currently changed significantly. “Of course, NASDAQ OMX Armenia played a great role in the stock market”, he said.

Yesterday “Araratbank” announced about the third emission of registered undocumented coupon bonds in the amount of 250 million drams in the period of December 14 – 25. It is planned to place 25 thousand bonds with nominal value of 10 thousand drams with annual percent rate up to 10% and 18 months redemption.

Payment for coupons will be made quarterly. Open JSC “Araratbank” – legal successor of the bank “Armsvyaz” was established in 02.09.1991. On October 31, 1996 the Bank received banking license N4.

Shareholders of the Bank are EBRD with the share of 25%. In charter capital of the Bank 74.1% of shares belong to Barsegh Beglaryan, the main shareholder, large entrepreneur, owner of the company “Flash”. Since January 30, 2009, Araratbank is the member of stock exchange NASDAQ OMX Armenia. ($1 – 383.07 drams).  --0—


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