Wednesday, August 16 2017 16:35

ArmInfo.. ACBA-Credit Agricole Bank on August 18 will publicly place its dollar-denominated coupon three-year bonds in the amount of $ 5 million with an annual yield of 5.5%. ArmInfo was told in the press service of the Bank that this issue contains 50,000 bonds with a face value of $ 100. Coupon payments are provided once every six months.

According to the source, the completion of the primary placement, on  the prospectus of this issue, is scheduled for November 18, 2017. One  investor can purchase a minimum package of 5 bonds, or a maximum of  10 thousand bonds.

"This is the first issue of the Bank's bonds, but the issue of bonds  will continue in the future. Thus, we want to contribute to the  development of the Armenian capital market. For our clients, the  bonds will become an alternative instrument of investments and  savings, and the bank intends to use the funds raised from the  placement to finance the real sector of the economy of Armenia," said  Deputy Chief Executive Officer of the Bank for the financial bloc  Stepa Zakinyan.

Applications for the purchase of bonds for individuals and legal  entities are available on the website at the following links:  https://www.acba.am/uploaded/Banki-partatomseri-dzerkberman-hayt_fiz-andz.pdf  https://www.acba.am/uploaded /Banki-partatomseri-dzerkberman-hayt_irav-andz.pdf

With the prospectus for the issue of these bonds, you can find the  following link:   https://www.acba.am/uploaded/Partatomseri-azdagir.pdf

According to the RA law on guaranteeing deposits of individuals, the  funds raised from registered coupon bonds are considered guaranteed  bank deposits and are guaranteed by the Deposit Guarantee Fund of  Armenia.

To note, on NASDAQ OMX Armenia as of June 2017 32 issues of corporate  bonds of 11 issuers are quoted. Of these, 20 issuing (including 16  dollar) were made by 7 issuing banks: Araratbank, Ameriabank,  Armswissbank, Armbusinessbank, Anelik Bank, Unibank and Converse  Bank.

To remind, "ACBA-Credit Agricole Bank" CJSC has been operating in  Armenia since 1995. Since September 2006, the largest European  banking group Credit Agricole SA has been the majority shareholder of  the bank.  With a 15.56% equity interest, followed by the  participation of SJSC Sacam International (a member of the Credit  Agricole SA group) in the amount of 12.44%, along with which there  are 10 regional Unions of Villagers Mutual Assistance).