Araratbank completes placement of 250 million drams worth corporate bonds

12.07.2011 12:26
Araratbank completes placement of 250 million drams worth corporate bonds

YEREVAN, July 12. / ARKA /. Armenian Araratbank said Monday it had completed the placement of the fourth issue of corporate bonds worth 250 million drams. According to a press release of the bank, sent to ARKA, it issued 25,000 bonds from June 20 to July 11. The demand for bonds was 25% higher.

Some 194 investors participated in the placement, including 11 legal persons and i183 individuals.

The press release said the rights of bond holders will be registered with the Central Depository of Armenia on July 12. Payment of coupon yield will made every quarter.

Araratbank, previously called Haykap Bank, was founded in 1991 and provides a full range of banking services to corporate, small, medium and retail customers. The bank has established a reputation as a small but reliable and dynamically growing financial institution. EBRD holds 25% in Araratbank. The rest is held by Barsegh Beglarian, head of the biggest petrol importing company Flash. Araratbank joined NASDAQ OMX Armenia January 30, 2009. -0-


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