ACP to issue bonds on sept 26-oct 9
ARKA
20/09/2007 16:36
The Armenian Copper Programme (ACP) is to issue its corporate bonds
September 26 to October 9, 2007. The ACP Company reports that 10,000
bonds at a nominal value of 50,000 AMD each are to be issued, the bond
turnover being 18 months and the annual interest rate 10%.
On September 18, the Board of the Central Bank of Armenia (CBA)
registered a declaration on securities, including a prospectus of a
bond issue by the Armenian ACP Company.
The company’s bonds will be floated by means of a syndicate formed of
the ArmSwissBank (250mln AMD), Armenian Development Bank (100mln AMD)
and Futures Capital Market credit institution (50mln AMD).
The ArmSwissbank is the principal underwriter, through which 100mln
AMD bonds will be floated by means of public subscription. All
individuals and legal entities that will apply for the purchase of
bonds can take part in the public subscription.
The CBA assigned a G+ rating (according to the Armenian alphabetic
order) to ACB.
The ACP forms part of the Vallex Group of Companies was founded in
august 1997, with a paid up authorized capital of $1.08mln. The Group
comprises the ACP Company, Base Metals Ltd., Vallex Mining and the
Institute of Mining and Smelting close corporation.
From: Emil Lazarian | Ararat NewsPress
