YEREVAN, July 15. /ARKA/. Government Bond Allocation Auction was held Tuesday at the Armenia Securities Exchange (AMX), AMX press service reports.
According to the press service, this auction was unprecedented for the amount of the allocated bonds – they totaled AMD 60bln.
The weighted average yield of bonds was 7.92%, and cut-off yield – 8.08%. The annual yield of the coupon was 9%, and the maturity date was 10 years with a semi-annual periodicity of payments.
According to the press service, the entire volume of government bonds of the AMGB1029A292 series of 60 billion drams was fully satisfied. Moreover, demand exceeded 159 billion drams, which is 166% higher than supply, which indicates the stability of financial markets and confidence in government bonds.
The auction was held in accordance with the new system of auctions of government bonds of Armenia’s stock exchange. This system was introduced in January 2020 and will become the basis for the introduction of a system that provides direct access to the secondary securities market and the DMA market.
These bonds can also be purchased through the online platform gp.minfin.am. This is a government bond retail market operated by the exchange. The platform allows individuals to purchase government bonds online and without intermediaries. In 2019, according to the annual report of the ministry of finance, over 535 million drams were traded through the gp.minfin.am platform.
AMX/Armenia Securities Exchange is Armenia’s only securities exchange. Its aim is to promote an attractive business environment to engage local and international partners by developing and introducing business-friendly products and services across trading, clearing, settlement and pension administration. ($1 – AMD 485.62). -0-
