Inecobank’s AMD- and USD-denominated bonds listed at Stock Exchange of Armenia

22.02.2019 18:56
Inecobank’s AMD- and USD-denominated bonds listed at Stock Exchange of Armenia

YEREVAN, February 22. /ARKA/. Inecobank’s AMD- and USD-denominated coupon bonds are included in Abond list at the Stock Exchange of Armenia, the press office of the stock exchange reported on Friday.

The yield of the bank’s USD-denominated bonds INECB3 totaling USD 5 million and costing USD 100 each is 5.25%. Coupon payments will be made once in every six months.
The yield of AMD-denominated bonds amounting to AMD 1.5 billion and costing AMD 10,000 each is 9.75%.

Hayk Voskanyan, financial director at Inecobank, said that that in total, bonds worth $10 million and AMD 1.5 billion of the implied AMD 20 million and $2.5 billion are already placed, including the first tranche of USD-denominated bonds INECB22ER8, which was listed in September 2018.
He also said that the bank will keep issuing bonds, since it is strengthening its positions at the securities market.

Inecobank CJSC was registered on February 7, 1996. This is the first bank in Armenia to present the installment loan program.
The bank’s shareholders are Baloyan – 30%, Safaryan – 25.92%, the Euroepan Bank for Reconstruction and Development – 22.7% and agRIF Coopeartief U.A – 10.01%.

The Stock Exchange of Armenia OJSC (formerly NASDAQ OMX Armenia) is the only stock exchange currently operating in Armenia. It was established in 2001.
In November 2007, it was reorganized into an open joint stock company.
The stock exchange is fully owned by OMX Company.
On June 5, 2009, the stock exchange became the owner of 100% of shares of the Central Depository of Armenia. ($1– AMD 488.07). -0---


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