ARMSWISSBANK PRESENTS ISSUE PROSPECTUS OF ARMRUSGASPROM CJSC’S BONDS TO CENTRAL BANK OF ARMENIA
ArmInfo
2008-06-19 15:53:00
ArmSwissBank presented the issue prospectus of ArmRusgasprom CJSC’s
bonds to the Central Bank of Armenia (CBA). ArmSwissBank told ArmInfo
that the issue prospectus was submitted to the CBA for registration
on June 18.
To recall, ArmSwissBank is the underwriter of the second issue of
ArmRusgasprom CJSC’s corporate coupon bonds, the agreement with which
was signed on May 20, 2008. The volume of the second issue will make
up 1 bln AMD (20000 bonds), the nominal value of each bond being 50000
AMD, profitability – 9,5%, and circulation period – 3 years. The bond
placement will be public. Coupon redemption will be carried out twice
a year at the rate of 4,75% of the nominal value of a bond. Investors
will be able to acquire the bonds with a 10% discount of annual yield.
To note, the first issue of ArmRusgasprom’s coupon bonds was placed
on July 4, 2007. The volume of the issue made up 1 bln AMD. The issue
consisted of 100 thsd bonds, the nominal value of each bond being 10
thsd AMD. The circulation period of the first issue made up 18 months,
annual yield – 9%.
In September 2007, the bonds were listed among Abond at the Armenian
Exchange (ArmEx). To note, according to ArmInfo’s financial analysis
service, over the past few years the volume of exchange operations
with ArmRusgasprom’s bonds at ArmEx made up about 350 mln AMD.
The company worked out the program of issue of bond loans to gasify
potential subscribers. The funds attracted from the market will be
spent on connection of about 40 thsd subscribers, mostly from poor
layers of population. The conducted policy not only gives a chance
to attract additional funds for implementation of various investment
projects, but also contributes to establishment and development
of the securities market in Armenia, which is also very important,
the company’s specialists say.