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ARMENIAN AMERIABANK PLANS TO ISSUE BONDS BY END-2009
/ARKA/
April 20, 2009
YEREVAN
Armenia's Ameriabank plans to issue its bonds by end-2009, Ameriabank's
Director General Artak Anesyan reported.
The bank is currently working out offers for the USAID and, as part
of a relevant program, 50% of the bond issue will be guaranteed.
Anesyan did not give details of the issue, saying the bank is currently
surveying the demand and supply in the local market.
"The interest rate will definitely not exceed the maximum deposit
rate set at 11%, which, we believe, is rather objective," the bank's
director general said, adding Ameriabank offers an interest rate
ranging from 6% to 8% for dollar deposits.
He said that the interest rate of bonds would not exceed the benchmark
market rate.
Anesyan stressed the importance of using the accumulated foreign
currency in Armenia, adding "everything depends on whether the bank
can change the 'dollar-oriented psychology' of clients."
"Indeed, Armenia has an investments market and our objective is to
develop it objectively," the banker said, adding results would be
tangible approximately in Q3 2009.
The main discrepancy in the local market is the imbalance between
the demand and supply, Anesyan said. He pointed out that the issuer
plans to sell bonds at 12% annual interest rate and the investors
expect a 16% yield.
Securities transactions on NASDAQ OMX Armenia stock exchange shrank
22.9% to 1,534mln drams between February and March 2009 (compared to
1,990.2mln drams in February). Corporate bond transactions amounted to
1,467.9mln drams, with government bond transactions totaling 66.1mln
drams. Stock transitions worth 32,000 drams were effected in the
reporting period.
A leading investment bank, Ameriabank delivers corporate, investment
and limited retail banking services. Ruben Vardanyan is Chairman
of the bank's Board of Directors, and Artak Anesyan is the Director
General of Ameriabank.
The bank's strategic partner is the leading Russian investment company
Troika Dialog. ($1 - 372.84 drams).
/ARKA/
April 20, 2009
YEREVAN
Armenia's Ameriabank plans to issue its bonds by end-2009, Ameriabank's
Director General Artak Anesyan reported.
The bank is currently working out offers for the USAID and, as part
of a relevant program, 50% of the bond issue will be guaranteed.
Anesyan did not give details of the issue, saying the bank is currently
surveying the demand and supply in the local market.
"The interest rate will definitely not exceed the maximum deposit
rate set at 11%, which, we believe, is rather objective," the bank's
director general said, adding Ameriabank offers an interest rate
ranging from 6% to 8% for dollar deposits.
He said that the interest rate of bonds would not exceed the benchmark
market rate.
Anesyan stressed the importance of using the accumulated foreign
currency in Armenia, adding "everything depends on whether the bank
can change the 'dollar-oriented psychology' of clients."
"Indeed, Armenia has an investments market and our objective is to
develop it objectively," the banker said, adding results would be
tangible approximately in Q3 2009.
The main discrepancy in the local market is the imbalance between
the demand and supply, Anesyan said. He pointed out that the issuer
plans to sell bonds at 12% annual interest rate and the investors
expect a 16% yield.
Securities transactions on NASDAQ OMX Armenia stock exchange shrank
22.9% to 1,534mln drams between February and March 2009 (compared to
1,990.2mln drams in February). Corporate bond transactions amounted to
1,467.9mln drams, with government bond transactions totaling 66.1mln
drams. Stock transitions worth 32,000 drams were effected in the
reporting period.
A leading investment bank, Ameriabank delivers corporate, investment
and limited retail banking services. Ruben Vardanyan is Chairman
of the bank's Board of Directors, and Artak Anesyan is the Director
General of Ameriabank.
The bank's strategic partner is the leading Russian investment company
Troika Dialog. ($1 - 372.84 drams).