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ARMROSGASPROM TO ISSUE BONDS FOR 1BLN DRAMS BY END OF JUNE
ARKA
June 3, 2008
YEREVAN, June 3. /ARKA/. ArmRosgasprom is to effect the second issue
of its bonds for 1bln drams by the end of June.
The Press Service of the Company reports that the respective agreement
on issue and placement of the bonds signed between ArmRosgasprom
closed joint stock company (CJSC) and ArmSwissbank CJSC provides for
secured placement of bonds.
The volume of the issues is 1 billion Armenian drams with nominal bond
value being 50,000drams and maturity period being 3 years. Interest
rate is set at an annual of 9.5% and coupon yield is to be paid once
every half a year.
Investors are expected to be able to purchase bonds at a price lower
than the nominal one, which will result in investor's annual bond
yield making 10%. In this case the placement price will be determined
based on the formula developed.
In September 2007 the Board of Directors of ArmRosgasprom approved
a bond issue program for total of 5bln drams to finance the gas
installation process in Armenia.
The first issue of coupon bonds of ArmRosgasprom with an 18-month
retirement period was completed on July 4 2007. The volume of the
issue was 1bln drams.
The company issued 100,000 mid-term coupon bonds with nominal value
of 10,000 drams and a 9% annual interest rate.
At the end of September 2007 corporate bonds of ArmRosgasprom for
1bln drams were registered and listed on the Armenian Stock Exchange.
"ArmRosgasprom" holds the monopoly for supply and distribution of the
Russian natural gas on the domestic market of Armenia. The company
was founded in 1997. Its capital is $580mln currently.
The shareholders are "Gasprom" open joint stock company (72.16%),
Armenia's Ministry of Energy and Natural Resources (22.78%) and
"Itera" oil and gas company (5.06%). ($1=305.42drams).
ARKA
June 3, 2008
YEREVAN, June 3. /ARKA/. ArmRosgasprom is to effect the second issue
of its bonds for 1bln drams by the end of June.
The Press Service of the Company reports that the respective agreement
on issue and placement of the bonds signed between ArmRosgasprom
closed joint stock company (CJSC) and ArmSwissbank CJSC provides for
secured placement of bonds.
The volume of the issues is 1 billion Armenian drams with nominal bond
value being 50,000drams and maturity period being 3 years. Interest
rate is set at an annual of 9.5% and coupon yield is to be paid once
every half a year.
Investors are expected to be able to purchase bonds at a price lower
than the nominal one, which will result in investor's annual bond
yield making 10%. In this case the placement price will be determined
based on the formula developed.
In September 2007 the Board of Directors of ArmRosgasprom approved
a bond issue program for total of 5bln drams to finance the gas
installation process in Armenia.
The first issue of coupon bonds of ArmRosgasprom with an 18-month
retirement period was completed on July 4 2007. The volume of the
issue was 1bln drams.
The company issued 100,000 mid-term coupon bonds with nominal value
of 10,000 drams and a 9% annual interest rate.
At the end of September 2007 corporate bonds of ArmRosgasprom for
1bln drams were registered and listed on the Armenian Stock Exchange.
"ArmRosgasprom" holds the monopoly for supply and distribution of the
Russian natural gas on the domestic market of Armenia. The company
was founded in 1997. Its capital is $580mln currently.
The shareholders are "Gasprom" open joint stock company (72.16%),
Armenia's Ministry of Energy and Natural Resources (22.78%) and
"Itera" oil and gas company (5.06%). ($1=305.42drams).