Anelik Bank issues fifth trance of USD-denominated bonds

12.10.2017 17:52
Anelik Bank issues fifth trance of USD-denominated bonds

YEREVAN, October 12. /ARKA/. The Anelik Bank has issued the fifth tranche of USD-denominated registered coupon bonds to the tune of $5 million, with annual yield of 5.75% and circulation period of 24 months. Interests will be paid every 6 months. The minimum package consists of 10 bonds with a nominal value of $100.

"This issue was prompted by high demand and trust in our bank. The bank did not impose any restrictions on this issue either - bonds can be obtained both by individuals and legal entities in any of the 14 branches of Anelik Bank," said the acting board chairman Ruben Melikyan at a press conference on Thursday.

According to him, by issuing bonds, the bank provides its clients not only with the opportunity to diversify their investments, but also with the opportunity to obtain sources of financing on more favorable terms.

According to Karen Nalbandian, the head of the development and investments department, the bonds have become an actively developing tool of the bank.

"Compared with other countries, Armenia has additional privileges in relation to this instrument; in particular, it is insuring bonds as deposits. Bonds are a more flexible and profitable investment tool," he said.

According to Aram Kayfajyan, the director of the Armenbrok investment company, acting as the market maker for the Anelik Bank bonds, there were only 7 issuers in the Armenian market in 2015, and now there are 12 of them. If there were 17 trenches of emissions then, today we have 38 trenches. The amount of transactions with bonds at the exchange in 2015 were worth $2.5 million. Today they worth $20 million," he said.

Anelik Bank has been issuing bonds since December 2016 and has already issued 4 tranches of coupon USD-denominated and dram bonds to the tune of 15 million US dollars and 1 billion drams, which were fully placed.

Anelik Bank has two shareholders - FISTOCO LTD - 59.7% and Lebanese CreditBank S.A.L. - 40.3%. -0-

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