CBA COUNCIL NOT AGAINST REGISTRATION OF BONDS OF CASCADE-CREDIT CJSC AT ARMEX
Arka News Agency, Armenia
Dec 11 2006
YEREVAN, December 11. /ARKA/. The Council of the Central Bank of
Armenia is not against registration of bonds of Cascade-Credit CJSC
at the Armenian Stock Exchange (Armex), according to the Council’s
decision, made at its regular session.
Cascade-Credit universal credit organization is the first credit
organization in Armenia, which had announced an emission of bonds. In
particular, it envisages emission of 3 thsd bonds totaling AMD 150
mln. In September 2006, the CBA registered a declaration, including
information about registration of shares of Cascade-Credit.
Cascade-Credit CJSC was granted a license by the Central Bank of
Armenia in December 2004. As at September 30, 2006, the authorized
capital of Cascade-Credit amounted to AMD 735 mln, and assets –
AMD 764,6 mln.
In Armenia first corporative bonds totaling AMD 200 mln were issued
by Armeconombank on December 14, 2005.