Friday, October 19 2018 15:48

ArmInfo.On October 22, IDBank will issue the 6th tranche of dollar-denominated coupon bonds in the amount of $ 5 million, with a coupon yield of 5.25%. As the Bank's press service told ArmInfo, the maturity of these bonds was set at  2.3 years.  According to the source, payments on coupons for this  tranche will be made quarterly, unlike previous issues, when payments  were made every six months. As part of this tranche, it is planned to  issue 50,000 bonds, each with a nominal value of $ 100.

The placement of bonds of this issue is planned to be completed by  December 28 of this year. They can be purchased at any branch of  IDBank from October 22 to December 28, 2018. After that, they will be  listed on the NasdaqOMX Armenia Stock Exchange. The bonds are  guaranteed by the Fund for Guaranteeing Reimbursement of Deposits of  Individuals in proportion to the volume of guaranteed deposits. In  previous issues of the bank, the investment company (IR) Armenbrok  acted as an underwriter and market maker. As for the bonds of the 6th  dollar tranche, the issuer bank itself acts as underwriter, and the  market maker is ARARATBANK.

As of today, IDBank has already issued 5 tranches of dollar bonds in  the amount of $ 25 million and one AMD tranche in the amount of 1  billion drams. On the stock exchange, all tranches of Anelik Bank's  bonds are quoted in the main Abond list. Taking into account the  planned issue, the tranches of dollar bonds will become 6, and their  volume will reach $ 30 million. "Thus, IDBank enables customers to  diversify their investments. Bonds, considering it a more flexible  tool, we offer our customers that they have the opportunity to  increase revenues not only through deposits and savings accounts. At  the moment, IDBank in the corporate bond market is the most active  player and is going to not only save but also improve the positions  achieved. I emphasize that we decided to continue the process of bond  issues on the basis of the demand. Initial issue of IDBank-bonds as a  rule terminates before the term provided for, "- said the acting  Chairman of the Board of IDBank, Ruben Melikyan.

It should be noted that the prospectus of the issue of IDBank bonds  was registered at the Central Bank of Armenia by the decision of the  Chairman of the Central Bank of February 23, 2006. (link:   https://www.idbank.am/company/11800.pdf). The electronic version of  the issue prospectus is posted on the IDBank official website  www.idbank.am. Here you can familiarize yourself with the basic terms  of the release of this tranche.

To recall, Anelik Bank has been operating in the market since October  1996. After the additional issue, carried out in November 2016, the  composition of the Bank's shareholders changed - the entry of the  Cyprus company FISTOCO LTD with a 59.68% stake reduced the share of  the former shareholder represented by Lebanese Bank CreditBank S.A.L  from 100% to 40.32%. The indirect majority shareholders are physical  persons: Tarek J. Khalefe (CreditBank S.A.L) and Vartan Dilanyan  (FISTOCO LTD).