{"id":99622,"date":"2016-07-08T13:00:51","date_gmt":"2016-07-08T13:00:51","guid":{"rendered":"https:\/\/armbanks.am\/2016\/07\/08\/244930\/"},"modified":"2024-12-15T13:24:32","modified_gmt":"2024-12-15T13:24:32","slug":"araratbank-issues-40000-nominal-coupon-bonds-worth-400-million-drams","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2016\/07\/08\/99622\/","title":{"rendered":"Araratbank issues 40,000 nominal coupon bonds worth 400 million drams"},"content":{"rendered":"<p><strong>YEREVAN, July 8. \/ARKA\/.<\/strong> Armenian Araratbank has issued 40,000 nominal non-documentary coupon bonds worth 400 million drams, the bank&#8217;s deputy board chairman Davit Harutyunyan said today. He said this is the 12th issuance of bonds by the bank. The face value of a bond is 10,000 drams. The maturity period is 24 months and the annual interest rate is 13%. Harutyunyan said subscription to\u00a0 the bonds will take place from 11 to 22 July.<\/p>\n<p>According to Harutyunyan, the interest rate does not differ from market rates. \u2018If we take two-year government bonds, their rate is 12-12.5%. We offer additional 0.5-1% premium for commercial bonds,&#8221; he said.<\/p>\n<p>According to Harutyunyan, the funds raised from the sale of bonds will allow the bank to offer lending at 14-15% rate.<\/p>\n<p>&#8220;Apart from buying and selling bonds market participants will be given the opportunity to conclude also repo transactions. The coupon payments will be made every quarter,&#8221; he said, adding that the bonds will be listed at NASDAQ OMX Armenia stock exchange within days after the completion of subscription, and then a contract will be signed with a market maker to secure their liquidity.<\/p>\n<p>&#8220;Everyone who buys a bond will have the opportunity to sell it at any time and receive the accrued interest. It is this that makes investments in bonds attractive as opposed to deposits,&#8221; he said.<\/p>\n<p>Harutyunyan added that the bank&#8217;s bonds will be protected by the Deposit Insurance Fund.<\/p>\n<p>In June, the bank issued and placed $1 million worth USD-denominated bonds. In 2016, some 82 transactions with Araratbank\u2019s bonds have been effected worth $540,000 and another 12 transactions worth 22 million drams.<\/p>\n<p>Bonds can be obtained by individuals or corporate companies at any branch or the head office of the bank.<\/p>\n<p>Araratbank founded in 1991 is owned by Flash Company (64.25%), EBRD (25%) and RURAL IMPULSE FUND II SA SICAV SIF (10%). It joined NASDAQ OMX Armenia in 2009 January.<\/p>\n<p>In the first quarter of 2016, the bank&#8217;s assets stood at 130.6 billion drams (a decline of 1% since the beginning of the year; liabilities stood at 107.9 billion drams (a decline of 1.45%), total capital was worth 22.7 billion drams (up 1%) and profit for the first quarter was 176.7 million drams. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Armenian Araratbank has issued 40,000 nominal non-documentary coupon bonds worth 400 million drams, the bank&#8217;s deputy board chairman Davit Harutyunyan said today<\/p>\n","protected":false},"author":1,"featured_media":158819,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[12162,15837],"class_list":{"0":"post-99622","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banks-en-en","8":"category-news","9":"tag-araratbank","10":"tag-armenia-2"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/99622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=99622"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/99622\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/158819"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=99622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=99622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=99622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}