ARMECONOMBANK Submitted Bonds Worth USD 3M and AMD 1B to Listing at AMX|Armenia Securities Exchange23.08.2019
USD-denominated bonds (AMHEZBB26ER7) were listed with 3 million total volume, 100 USD nominal value, 5.50% coupon yield, and 36-month maturity period. AMD-denominated bonds (AMHEZBB27ER5) were presented to trading on AMX with 1 billion total volume, AMD 10000 nominal value, 10.25% coupon yield, and 36-month maturity period. In both listings the payments will be concluded quarterly. This was the bank’s 4th USD-denominated and 2nd AMD-denominated listing so far.
“We are happy to inform that we completed USD 3 million (AMHEZBB26ER7) and AMD 1 billion (AMHEZBB27ER5) bond allocation in accord with the current prospectus. The bank has successfully allocated bonds with USD 9.1 million and AMD 1.1 billion total volume. These bonds were listed on Armenia Securities Exchange and have a market maker”, said Aram Khachatryan, CEO of ArmEconomBank.
Hayk Yeganyan, CEO of Armenia Securities Exchange said, “We are glad to cooperate with ArmEconomBank which concluded its 3rd bond listing on Armenia Securities Exchange. We hope the tendency of bond issuance and listing will keep on growing together with economic growth and factors influencing it. Compared with the H1 of 2018, the number of listed bonds has grown by 20%, while the trade volume has increased by 41%. This speaks of the trust on the side of private sector and the opportunity for companies to raise capital from public.”
Aram Khachatryan added, “Taking into account the great demand towards issued bonds, as well as the fact that bond allocation process ends by the deadline, we are going to continue the issuance of bonds and provide our presence in the corporate market. The bank also acts as a paying agent of RA since January 1, 2018, playing an active role both in the primary and secondary markets”.
Due to this partnership ArmEconomBank connects citizens to the Depository and becomes a middleman in registry keeping and custody, thus recording and saving the right of ownership towards securities.