YEREVAN, June 28./ARKA/. Armenian Araratbank announced Friday it was to make the seventh issue of AMD-denominated coupon bonds worth of 400 million drams.

The decision was made to meet the revealed market demand, deputy executive director David Harutyunyan noted.

“The bank will issue 40,000 bonds, the face value of each bond will be 10,000 drams, at 13% interest rate. The maturity period will be 36 months. Coupon payments will be due each quarter,” he said.

Any legal entity or individual can buy bonds visiting the head office or any branch of the bank.
Araratbank was established in 1991. On 31 October 1996, the bank received the banking license №4.  Some 74.18 percent in Araratbank is owned by Barsegh Beglarian, the owner of Flash oil trader, 25% is owned by EBRD. On 30 January 2009, the bank joined  NASDAQ OMX Armenia. ($1 – 409.60 drams). —0-