YEREVAN, February 1. /ARKA/. The European Bank for Reconstruction and Development (EBRD) has placed the first issue of AMD coupon bonds worth a total of 2 billion drams at NASDAQ OMX Armenia stock exchange, the stock exchange press office reported.
The floating rate Notes for a total amount of AMD 2 billion were placed successfully through the stock exchange mechanism. The coupon rate is referenced to 6-month AMD T-Bill rate published by the Central Bank of Armenia with a margin of 0.30% per cent per annum. Cut-off rate was set during the auction at 8.555%.
“This is the first public placement of bonds in Armenia by an international financial institution, completed through the stock exchange mechanism, which widens the customer base of NASDAQ OMX Armenia by using its technologies in the securities placement process and creates grounds for enhancement of investment opportunities in Armenian capital market”, says the report.
Ameriabank CJSC and HSBC Bank Armenia CJSC acted as advisers and agents to the issuer, according to the report.
The Bank is an international organisation formed under the Agreement Establishing the Bank dated 29th May, 1990 (the “Agreement”), signed by 40 countries, together with the European Economic Community and the European Investment Bank. The Agreement came into force on 28th March, 1991 and the Bank commenced operations on 15th April, 1991. The Bank has currently 66 members including Armenia. The Bank’s principal office is in London. The Bank started its operations in Armenia in 1991, and invested over 656 million euros under about 120 programs by October 2013.
NASDAQ OMX Armenia (former Armenian Stock Exchange, Armex), was established in 2001 as a voluntary merger of 21 broker (dealer) companies. In November 2007 the stock exchange was reorganized into OJSC. OMX (current NASDAQ OMX) is a holder of 100% stock of NASDAQ OMX Armenia.
The stock exchange obtained 100% stock of Armenia’s Central Depository. NASDAQ OMX Armenia received a trade license from CBA on November 7, 2005. The trades on the stock exchange were officially launched on 15 November 2005. ($1=408.11drams). –0–
