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SAS-Group to issue currency bonds worth $7 million
YEREVAN, November 30. / ARKA /. SAS-Group chain of supermarket said it
is going to place $7 million worth nominal coupon currency bonds. It
said Ameriabank has agreed to act as the underwriter of bonds.
"From 6th of December to 10th of January 2013 we plan to place 700
thousand bonds with a par value of $10 each at 10.1% annual interest
rate and a two-year maturity period. Payments on coupons will be held
every six months ", Stepan Sahakyan, SAS CEO, said today.
Sahakyan said the raised funds will be used to expand the network of
supermarkets, but stressed that the company has no plans to open
supermarkets in the provinces.
Ameriabank investments director Arno Movsisyan said the face value of
the bonds makes them accessible to individuals. Movsisyan also
stressed that Ameriabank is the strategic partner of SAS-Group and may
consult it on the IPO.
`SAS-Group is making still the first steps which will allow it to
introduce the company to investors in the capital market and identify
the demand," he said.
SAS-Group, one of the leaders in Armenia's retail trade, was founded
in 1995 by brothers Arman and Artak Sargsyans. It owns seven
supermarkets SAS and two salon-shop SAS Home.
The company also signed exclusive franchising contracts with British
NEXT, DEBENHAMS and RIVER ISLAND brands, as well as with ALDO. On the
16th of October 2012 the Central Bank of Armenia assigned it the G+
rating.
Ameriabank "is a universal bank providing investment, corporate and
retail banking services in an integrated package of banking solutions.
It is owned by Troika Dialog - one of the largest investment banking
companies in Russia. -0-
YEREVAN, November 30. / ARKA /. SAS-Group chain of supermarket said it
is going to place $7 million worth nominal coupon currency bonds. It
said Ameriabank has agreed to act as the underwriter of bonds.
"From 6th of December to 10th of January 2013 we plan to place 700
thousand bonds with a par value of $10 each at 10.1% annual interest
rate and a two-year maturity period. Payments on coupons will be held
every six months ", Stepan Sahakyan, SAS CEO, said today.
Sahakyan said the raised funds will be used to expand the network of
supermarkets, but stressed that the company has no plans to open
supermarkets in the provinces.
Ameriabank investments director Arno Movsisyan said the face value of
the bonds makes them accessible to individuals. Movsisyan also
stressed that Ameriabank is the strategic partner of SAS-Group and may
consult it on the IPO.
`SAS-Group is making still the first steps which will allow it to
introduce the company to investors in the capital market and identify
the demand," he said.
SAS-Group, one of the leaders in Armenia's retail trade, was founded
in 1995 by brothers Arman and Artak Sargsyans. It owns seven
supermarkets SAS and two salon-shop SAS Home.
The company also signed exclusive franchising contracts with British
NEXT, DEBENHAMS and RIVER ISLAND brands, as well as with ALDO. On the
16th of October 2012 the Central Bank of Armenia assigned it the G+
rating.
Ameriabank "is a universal bank providing investment, corporate and
retail banking services in an integrated package of banking solutions.
It is owned by Troika Dialog - one of the largest investment banking
companies in Russia. -0-