Wed, 30 April
11.1 C
Yerevan
USD: 389.45 RUB: 4.78 EUR: 443.12 GEL: 141.62 GBP: 521.16
spot_img

Armenian Araratbank intends to place nominal non-documentary coupon bonds

YEREVAN, December 16. /ARKA/. Armenian Araratbank intends to place nominal non-documentary coupon bonds worth AMD 250 million over the period between December 14 and 25, David Harutyunyan, deputy executive director of the bank, said Monday in Novsti International Press Center.

Garik Adamyan, chief of Araratbank’s strategy and methodology division, who spoke at the same press conference, said that the bank planned to place 25,000 18-month bonds of AMD 10,000 nominal cost each at up-to-ten-percent annual interest.

Payment will be made in quarterly installments.
He said that the bank intended to issue corporate bonds yet in late 2008.

“We were going to issue bonds worth 200 million, but taking into account things on the market and the results of our studies, we decided to enlarge the amount to AMD 250 million,” he said adding that this decision has mainly been grounded on the demand displayed by investors for corporate securities, included bonds.

Adamyan also said that after issuing the bonds Araratbank applied to NASDAQ OMX Armenia Stock Exchange for listing.

He said that investors would be legal entities and individuals, who are residents and non-residents. The issue will be carry out by the bank’s home office and branches.

Deputy Executive Director David Harutyunyan said that the bond registration on the stock exchange was planned to be completed by late January or early February, and one or two investment companies would appear as market makers.

These companies will ensure liquidity of these bonds.
“This issue differs from the previous two with 10% yield instead of 9% of first two issues.”
In 2007, Araratbank issued its first bonds worth AMD 250 million.

Later, in June 2008, the bank embarked on another issue worth AMD 400 million.

Araratbank OJSC, heir of ArmSvyaz, was established in 1991.

In October 1996, the bank received the license #4. European Bank for reconstruction and Development holds 25% of Araratbank’s shares and 74.1% belong to Barsegh Beglaryan, owner of Flash Company.

On January 30, 2009, Araratbank joined NASDAQ OMX Armenia Stock Exchange.

The bank has 27 branches in Armenia. -0—

spot_img

POPULAR

Euro exchange rate down 1 point, while US dollar and ruble up

The average market exchange rate of the U.S. dollar to the Armenian dram on April 25, 2025, rose by 0.77 points compared to April 23 and amounted to AMD 390.33.

Armenia may access $25 mln from the IMF under the SBA agreement in June

An International Monetary Fund (IMF) team led by Iva Petrova visited Yerevan from March 31 to April 10, 2025, to conduct discussions for the fifth review under the Stand-By Arrangement (SBA) with Armenia.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Armenia ratifies EUR 10.1 million investment agreement with EIB on Yerevan’s Second Energy Efficiency Program

The Armenian Parliamentary Committee on Financial, Credit and Budgetary Affairs gave a positive conclusion at its meeting on Friday on the ratification of the agreement on the investment grant for the "Second Yerevan Energy Efficiency Program" in the amount of EUR 10.1 million.

In February, deposits in Armenian banks grew by 1%, loans decreased by 0.1% due to dram funds

In February 2025, deposits in Armenian commercial banks grew by 1% (MoM), while loans decreased by 0.1% (MoM), in both cases the changes were due to funds denominated in drams.

LATEST NEWS

spot_imgspot_imgspot_img