YEREVAN, February 6. /ARKA/. The National Mortgage Company (NMC) has placed its 9th bond issue worth 1 billion drams Wednesday on NASDAQ OMX Armenia stock exchange through a closed (European) auction, the press office of the company told ARKA.

The report says a total of 10,000 bonds are tradable in denomination of 100,000 drams. The redemption period is 12 months. Four members of the stock exchange participated in the bidding.

Bids amounted to 924,419,680 drams; bids worth a total of 741,058,200 drams were accepted. Weighted average yield was 8.6766% with cut-off at 8.8013%.

The NMC will spend the funds from the placement to refinance mortgage loans extended by its financial partners, says the report.

National Mortgage Company is a refinancing credit organization registered and licensed by Armenia’s Central Bank, the sole founder and stockholder of the company, in 2011. ($1-410,15 драма).  –0--