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ARARATBANK INTENDS TO CARRY OUT THE THIRD ISSUE OF CORPORATE BONDS BY THE END OF 2009
ArmInfo
2009-08-25 20:38:00
ArmInfo. By the end of 2009, ARARATBANK intends to carry out the
third issue of corporate bonds, Chairman of Board of ARARATBANK Ashot
Osipyan told ArmInfo correspondent. According to him, at the moment the
bank is working at the parameters of the planned issue which should
meet the current business trends and market demands. "Placement of
the bank's two issues of bonds, the first one being repaid in 2008,
took place in a more favorable period - under conditions of economic
growth and activity in the market of corporate bonds. The bank will
place the third issue under conditions of economic downturn against
the background of the crisis",- he said.
As regards ARARATBANK'a initiative to hold IPO at Warsaw Stock
Exchange, Osipyan said that the consultative talks with the leadership
of the Warsaw Stock Exchange are suspended over the holiday time and
will be resumed in the near future. He said IPO preliminarily amounts
to $30 mln.
Concerning adoption of a law on issue of corporate bonds in free
currency, Osipyan said that there is no need to adopt such a document
in Armenia. He thinks that each country's policy should first and
foremost aim to stimulate the national currency turnover.
To note, the placement of the first issue of ARARATBANK undocumentary
coupon corporate bonds worth 250 mln AMD with quarterly coupon
payment, annual yield of 8%, circulation period of 1 year, took place
on 3 May 2007. The bonds of the first issue were redeemed on 12 May
2008. Throughout the whole period of circulation of the first-issue
bonds at NASDAQ OMX Armenia, transactions amounted to 450 mln AMD
(94 transactions). The placement of the second issue of ARARATBANK
undocumentary corporate bonds worth 400 mln AMD, with annual yield
of 9% and circulation period of 1,5 years, took place from 9 till 24
June 2008. The period of redemption of the second issue expires on
December 24, 2009. From July 2008 till 24 August 2009 inclusive 45
transactions worth 267 mln AMD were carried out with the second-issue
bonds at the stock exchange. These securities are listed at Bbond by
NASDAQ OMX Armenia.
ArmInfo
2009-08-25 20:38:00
ArmInfo. By the end of 2009, ARARATBANK intends to carry out the
third issue of corporate bonds, Chairman of Board of ARARATBANK Ashot
Osipyan told ArmInfo correspondent. According to him, at the moment the
bank is working at the parameters of the planned issue which should
meet the current business trends and market demands. "Placement of
the bank's two issues of bonds, the first one being repaid in 2008,
took place in a more favorable period - under conditions of economic
growth and activity in the market of corporate bonds. The bank will
place the third issue under conditions of economic downturn against
the background of the crisis",- he said.
As regards ARARATBANK'a initiative to hold IPO at Warsaw Stock
Exchange, Osipyan said that the consultative talks with the leadership
of the Warsaw Stock Exchange are suspended over the holiday time and
will be resumed in the near future. He said IPO preliminarily amounts
to $30 mln.
Concerning adoption of a law on issue of corporate bonds in free
currency, Osipyan said that there is no need to adopt such a document
in Armenia. He thinks that each country's policy should first and
foremost aim to stimulate the national currency turnover.
To note, the placement of the first issue of ARARATBANK undocumentary
coupon corporate bonds worth 250 mln AMD with quarterly coupon
payment, annual yield of 8%, circulation period of 1 year, took place
on 3 May 2007. The bonds of the first issue were redeemed on 12 May
2008. Throughout the whole period of circulation of the first-issue
bonds at NASDAQ OMX Armenia, transactions amounted to 450 mln AMD
(94 transactions). The placement of the second issue of ARARATBANK
undocumentary corporate bonds worth 400 mln AMD, with annual yield
of 9% and circulation period of 1,5 years, took place from 9 till 24
June 2008. The period of redemption of the second issue expires on
December 24, 2009. From July 2008 till 24 August 2009 inclusive 45
transactions worth 267 mln AMD were carried out with the second-issue
bonds at the stock exchange. These securities are listed at Bbond by
NASDAQ OMX Armenia.