Armenian Araratbank announces opening of first trading session in USD-denominated bonds

28.06.2013 17:47
Armenian Araratbank announces opening of first trading session in USD-denominated bonds

YEREVAN, June 28. / ARKA /. Armenian Araratbank announced Friday the opening of the first trading session of the sixth issue of foreign currency bonds, which were listed at NASDAQ OMX Armenia stock exchange.

Renesa Company was selected to act as the bond market maker. The bonds will be in free circulation in the secondary market of securities, and any person can buy them through investment companies, which are members of the exchange, according to deputy executive director of Araratbank David Harutyunyan.

He said the results of the placement show a high level of demand from investors.
"The demand was 30% higher than $1 million worth bonds issued earlier. Some 123 investors participated in the placement, 65% of whom are individuals," Harutyunyan said.

He said the bank had issued 40 thousand USD-denominated bonds with a par value of $25 each at 8.5 percent annual interest rate and 36-month maturity.

Some  74.18% in Araratbank is owned by Barsegh Beglarian, the owner of Flash oil trader, 25% are held by EBRD. ($1 – 409.60 drams). -0-


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