Wednesday, November 20 2013

The Central Bank of Armenia has registered a prospectus for the issue of Shen Holding's USD nominal coupon bonds with a total amount of $4 million ($100 per bond) and an 11% yield. 

President of Shen Holding Samvel Beglaryan told ArmInfo that the maturity of the bonds is 5 years, with the coupon profit to be paid once in six months. 
Beglaryan said that the bonds will be placed from Nov 20 till Dec 17 2013. The money received as a result will be spent on refunding of the previous issue. The underwriter of this and all previous issues is Capital Investments.

On Nov 11 2013 the Board of Directors of Shen Holding approved new rules for issuing, placing, circulating and repaying the bonds.
Shen Holding has so far issued bonds worth a total of 2.7 billion AMD.  The first bonds worth a total of 40 million AMD were issued in 2006 to become the first corporate bonds ever in Armenia. The company is also considering an IPO.

As of July 1 2013 the assets of Shen Holding made up 16 billion AMD, accumulated profit 2.7 billion AMD, authorized capital 3.35 billion AMD.
Shen Holding specializes in producing and selling construction materials, including paints, varnishes, concrete blocks, mixed concrete, paving slabs. The company is also active in Georgia. For the moment it is forming its own base of raw materials and has the biggest gypsum quarry in the region. Shen Holding employs around 500 people.

Shen Holding dates back to 1970 when the largest enterprise for state supplies of non-ferrous metals ("HayGunMet") was established Having merged with "Huntsman Building Products" LLC and "Shen Group" CJSC, Shen Concern was converted into Shen Holding, which nowadays encompasses Shen Concern CJSC, Huntsman Building Products and Shen group.