IMEX GROUP is planning an issue and public placement of corporate bonds
in Armenia

2008-07-04 16:24:00

ArmInfo. IMEX GROUP LLC, the leading regional distributor of
sanitaryware and building materials, is planning an issue and public
placement of corporate bonds in Armenia in September 2008, IMEX GROUP
told ArmInfo. The company is known to Armenian consumers under the
brands "Ideal System", "Thermotech", "Mercury", "Kinhil", etc.
According to the source, the company has thoroughly prepared for the
placement having held a number of structural reforms, received a rating
by the Central Bank of Armenia and held an audit of financial
accountability. To prepare the issue, the company involved Ameriabank
(former Armimpexbank), the affiliated structure of the leading Russian
investment company Troika Dialog. IMEX GROUP concluded an agreement on
underwriting with Ameriabank and is already actively working on the
preparation of the issue. The decision on the bond issue meets the
strategic plan of the company’s development in the increase of openness
and transparency of activity in compliance with the new demands of the
market.

IMEX GROUP noted that the decision on the bond issue was preceded by a
detailed analysis of the general macroeconomic situation of Armenia,
financial sector and local securities market, due to which the
parameters of the securities will be based on real market ratios. As of
the moment of placement, the profitability of IMEX GROUP’s bonds is
supposed to range from 11,25% to 11,5%, the circulation period will
make up 2 years with quarterly coupon payments. Specialists think that
quarterly payments will make the bonds more attractive than payments
twice a year, which are more popular in the market. In addition, the
emitter intends to provide investors with option to buy-out securities
in face value 1 year after the issue, which will increase investment
prospects. IMEX GROUP LLC that was founded in 2001 is the promoter of a
network of shops of building materials of ‘Ideal System’ and shops of
heating equipment and conditioningsystems ‘Thermotech’. At present the
company unites over 30 shops in Yerevan, Gyumri, Artashat, Vanadzor,
Armavir and Etchmaidzin. IMEX GROUP is the largest supplier of building
materials and goods for interior and exterior repair and construction
in Armenia. The company is the official representative of some 75
European companies in Armenia and Georgia.

In August 2007, TDA Holdings LTD representing the shareholders of the
leading investment company in Russia Troika Dialog Group, became the
majority shareholder of Ameriabank (the former Armimpexbank).
Development of investment banking together with provision of a full
spectrum of traditional banking services is priority for the bank.