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ARTSAKH HPP ISSUES FOREIGN EXCHANGE BONDS WITH 10% YIELD
http://www.arminfo.am/index.cfm?objectid=FB9B0720-3EB5-11E2-918EF6327207157C
Wednesday, December 5, 11:29
Artsakh HPP OJSC issues foreign exchange bonds in the amount of
6 million USD, 10% yield and 3-year maturity, ArmSwissbank, the
underwriter of the company's bonds, told ArmInfo.
The nominal value of a bond is $10,000, the source reports. The
placement is scheduled for December 5- 18.
The bank's press-service told ArmInfo, the Artsakh HPP Board of
Directors adopted a decision to issue the foreign currency bonds on
August 9 2012. The offering memorandum was registered by the Central
Bank of Armenia on Nov 28 2012.
The company plans to invest the raised funds in refinancing of bank
loans and construction of a new small HPP with a capacity of 4.2 MW.
"Issue of USD bonds with a 10% yield will settle the company's problem
with refinancing of bank loans. In addition, the company will continue
expansion of the industrial assets," says Karen Turyan, Director of
ArmSwissbank's Investment Department.
Artsakh HPP OJSC is one of the leading companies in the energy sector
of the Nagorno Karabakh Republic. It satisfies over 40% of the energy
demand in NKR. In 2009 the company made the first IPO. In October
2010 the Central Bank of Armenia registered the offering memorandum
for the 2nd-issue ordinary shares of the company and in August 2011 -
the 3rd issue. The funds raised for placement of shares were invested
in construction of new hydropower plants.
The accumulated profit of the company for 9 months of 2012 totaled
314.04 mln drams, assets reached 15.6 bln drams, with the statutory
capital totaling 10.65 bln drams.
http://www.arminfo.am/index.cfm?objectid=FB9B0720-3EB5-11E2-918EF6327207157C
Wednesday, December 5, 11:29
Artsakh HPP OJSC issues foreign exchange bonds in the amount of
6 million USD, 10% yield and 3-year maturity, ArmSwissbank, the
underwriter of the company's bonds, told ArmInfo.
The nominal value of a bond is $10,000, the source reports. The
placement is scheduled for December 5- 18.
The bank's press-service told ArmInfo, the Artsakh HPP Board of
Directors adopted a decision to issue the foreign currency bonds on
August 9 2012. The offering memorandum was registered by the Central
Bank of Armenia on Nov 28 2012.
The company plans to invest the raised funds in refinancing of bank
loans and construction of a new small HPP with a capacity of 4.2 MW.
"Issue of USD bonds with a 10% yield will settle the company's problem
with refinancing of bank loans. In addition, the company will continue
expansion of the industrial assets," says Karen Turyan, Director of
ArmSwissbank's Investment Department.
Artsakh HPP OJSC is one of the leading companies in the energy sector
of the Nagorno Karabakh Republic. It satisfies over 40% of the energy
demand in NKR. In 2009 the company made the first IPO. In October
2010 the Central Bank of Armenia registered the offering memorandum
for the 2nd-issue ordinary shares of the company and in August 2011 -
the 3rd issue. The funds raised for placement of shares were invested
in construction of new hydropower plants.
The accumulated profit of the company for 9 months of 2012 totaled
314.04 mln drams, assets reached 15.6 bln drams, with the statutory
capital totaling 10.65 bln drams.