YEREVAN, July 16. /ARKA/. Demand for corporate dram bonds inn Armenia will be growing, Karen Turyan, deputy executive director and the head of the investment division of ArmSwissbank, told journalists on Wednesday.
“Demand for corporate bonds in drams emerged recently at Armenian market because of the fallen yield of government bonds, and therefore market players are increasing amounts of their emissions,” he said stressing that not only banks’, but also other financial market players’ interest in corporate dram bonds is growing.
If government bond yield trends remain, he said, then quite interesting developments are expected in the coming one or two years. In particular, new companies may come to the market for attracting resources.
According to the Central Bank of Armenia, investments in government bonds totaled AMD 268.4 billion in late May 2014 after growing 2.1% over the month.
The regulator sold AMGN36294175 mid-term government bonds worth 3 billion drams and maturing by April 29, 2017.
Bids at the auction totaled 8 077 million drams, of which 7011 million noncompetitive bids.
Seven dealers took part in the auction.
Yield of Highest Accepted Bids: 9.6391%. W.A. Yield of Successful Bids: 9.74%.
The profit from the auction amounted to 2 931 980 389 drams. ($1 – AMD 407.29). –0–
