ArmInfo. Ardshinbank December 16 this year will begin the initial placement of non-documentary coupon dollar bonds in the amount of $ 5 million. As evidenced by the emission prospectus posted on December 11 on the Central Bank's website, 50 thousand bonds with a par value of $ 100 each, with a coupon yield of 5.25% and a periodicity of payment of times are provided to the quarter. The maturity date of the bonds of this issue is dated March 16, 2022.
According to the prospectus, the completion of the initial placement of bonds of this issue is provided for February 28, 2020. The exchange code is AMASHBB25ER2.
Upon completion of the initial offering, the bonds will be listed on the Armenian stock exchange AMX. According to AMX Armenia, as of December 11 this year, 3 tranches of Ardshinbank bonds are quoted on the Armenian stock exchange: one dram in the amount of 1.5 billion drams and two issues of dollar bonds in the amount of $ 15 million. The circulation term of the dram bonds is 36 months, and the dollar - 27 months. The yield on the coupon of dram bonds was set at 10.5%, and the dollar - at 5.5% and 5.4%, respectively. Coupon payments are made once a quarter. The maturity of the dram issue is dated June 10, 2022, and two dollar ones - September 3, 2021 and January 10, 2022, respectively.
Note that prior to this, Ardshinbank also placed its bonds on foreign capital markets. In particular, the placement of the first issue took place on December 9, 2014, the issue volume was $ 75 million, the coupon yield was 12% with a quarterly periodicity of payment, and the initial placement yield was 12%. The bonds of this issue have already been repaid - the term has expired on December 9, 2017. This issue was quoted on the Vienna Stock Exchange, and clearing was carried out in the Euroclear and Clearstream systems. This was the first transaction of a private Armenian company in international financial markets after the debut issue of state eurobonds of Armenia in 2013.
The successful debut at the Vienna Stock Exchange inspired Ardshinbank for a second more voluminous launch of its bonds already on the Irish Exchange. The second issue, carried out in June 2015, was larger than the first. This time the issue volume was $ 100 million, the placement was public, the coupon yield was 12% with a semi-annual periodicity of payments. The maturity date of the second issue bonds expires on July 29, 2020. The general manager of the second bond issue of Ardshinbank, like the first, is investment bank JP Morgan.
According to the Financial Rating of the Banks of Armenia as of October 1, 2019, prepared by ArmInfo IC, the volume of funds raised by Ardshinbank from the placement of its own bonds amounted to 25.4 billion drams ($ 53.4 million) or 13% of the total market. Ardshinbank on this indicator at the reporting date is in TOP-3.
Recall that Ardshinbank was founded in 2003. The majority shareholders of Ardshinbank as of October 1, 2019 are Arins Group LLC (formerly referred to as Business Investment Center LLC) with a 67.97% equity stake and REGION Industrial and Financial Corporation CJSC - 29.52%. Ardshinbank is the second largest bank in Armenia, having one of the largest branch networks, consisting of 63 branches: 18 are located in Yerevan, 42 in the regions and 3 in Artsakh. The Bank has a rating of international reputable rating agencies equal to the country rating of Armenia, which is considered a high rating in world practice.