YEREVAN, February 19. /ARKA/. The bell of the Armenian Securities Exchange announced the listing of IDBank’s dollar bonds of 2nd issue of 2019, the bank said today in a press release.
It said thus, 4 tranche bonds issued by IDBank with a volume of 15 million USD and 250 million AMD are currently circulated in the secondary market.
“IDBank continues to be in an active position in the bond market and offers its clients the opportunity to make profitable investments. Bank’s bonds are in high demand and are usually placed before the due date. For example, the AMD bonds issued in 2019, were sold out just days after issuance, which, of course, indicates a high level of confidence in IDBank. If we take into account the new legislative changes, the result of which will be the non-taxable income from the bonds, the latter will become more attractive, and I am confident that our further issuances will be in greater demand”, said Mher Abrahamyan, Chairman of the Management Board of IDBank.
The total volume of the listed bonds is $ 5,000,000, the nominal value is 100USD, the coupon annual yield is 5%, the coupon will be paid quarterly, the maturity is 27 months. From the moment of listing, address trading and repo transactions were permitted.
“Listing of the bonds and investing in bonds has become even more attractive and profitable due to recent developments in the capital market. Particularly the recent changes in the RA Tax Code, including the exemption of income tax and non-resident income tax from the interest rates on bonds listed on the stock exchange, and this year, the introduction of a new trading system on the stock exchange, which will give physical entities online access to the stock market, will create new prospects of development both for issuers and for investors,” said the CEO of the Armenian Securities Exchange, Hayk Yeganyan.
The Armenian Securities Exchange has been cooperating with IDBank since 2009. The latter is also a Deposit Account Operator, a member of a regulated market settlement system.
The Armenian Securities Exchange provides a fully automated trading system and convenient trading conditions. Currently trading in stocks, corporate and government bonds, foreign exchange, credit resources, as well as REPO and SWOP transactions are carried out at the stock exchange.
IDBank was founded on August 1, 1990. Since October 1996, IDBank has been operating as a commercial bank. The Bank’s shareholders are FISTOCO LTD, Cyprus with 59.68% shares and CreditBank S.A.L Bank with 40.32% shares. Indirect majority shareholders are physical entities, Vartan Dilanyan (FISTOCO LTD) and Tarek Khalife (CreditBank S.A.L).
The Bank is constantly expanding its list of services and improving their quality. IDBank offers its customers innovative digital solutions and continuous improvement of their branch network. The Bank’s vision is to become a leading bank in the financial sector of the Republic of Armenia, providing customers up-to-date digital solutions. ($1 – 478,63 drams)
