YEREVAN, December 10. /ARKA/. Ardshininvestbank has issued bonds at international financial market and has attracted financing amounting to $75 million, the press office of the bank reports.
Ardshininvestbank was the first private company in Armenia to issue bonds at international financial markets.
The bank placed three-year bonds (LPN – Loan Participatory Note) under support from J.P.Morgan investment bank, general manager of the issue.
Moody’s rating agency has assigned Ba2 rating to the bank’s bonds. The bonds have been quoted at Vienna Stock Exchange, and clearing is being carried out in Euroclear and Clearstream systems.
According to the report, the bank will spend the attracted funds on expansion of its strategic activities.
Ardshininvestbank’s managers have expressed satisfaction at this deal and international investors’ interest.
“We are proud of the fact that Ardshininvestbank is the first commercial issuer in Armenia to place bonds at international capital markets,” said Mher Grigoryan, chairman of the bank’s board.
This is an important step, he said, not only for the bank, but also for the entire country, since it contributes to introduction of Armenian commercial companies to the international financial map.
Ardshininvestbank, established in 2002, is one of the flagship banks in Armenia. It has 55 branches all over the country.
The bank has Ba3 rating with stable outlook assigned by Moody’s. In early 2014, the bank attracted $18 million from international investors as syndicated loan. It was the first bank in Armenia to strike such a deal without support from international donors. —–0—–
