Ardshininvestbank carries out the first coupon payment of its bonds

2009-03-09 17:00:00

ArmInfo. Ardshininvestbank has carried out the first 250 AMD coupon
payments of its first-issue undocumentary coupon bonds.

As Ardshininvestbank press-service told ArmInfo, the volume of this
issue of bonds amounted to 1.5 bln AMD. A total of 150000 bonds were
issued, the nominal value of each being 10000 AMD, the bonds were
completely placed on 5 December 2008. The coupon payments are carried
out every quarter, particularly, the second payment will be on 5 June
2009, third one – on 5 September 2009, and the fourth payment and
redemption – on 5 December 2009. The yield of the given bonds is 10%.
According to the source, taking into account the success of the first
issue, the bank is going to carry out the second issue of bonds in
2009.

To recall, a total of 154 persons invested in the first-issue bonds,
152 of them being residents, and 2 – non- residents. 121 of them are
individuals, 33- legal entities. According to Ardshininvestbank’s data
received earlier, the given issue will be doubled due to the bank’s own
funds and will be spent on implementation of small and medium business
financing program, moreover, these loans will be
issued on preferential terms – at 13% p.a.

According to the last data of NASDAQ OMX Armenia, by the bank
obligations along with Ardshininvestbank the obligations of Converse
Bank, ARARATBANK and HSBC Bank Armenia also rule at the stock exchange.
On 12 December 2008 Ardshininvestbank was involved in the Armenian
Stock Exchange.

By data of Ardshininvestbank it serves 55 operating branches including
13 in Yerevan, 36 in regions and 6 in the NKR as well as a
representation in Paris. The number of clients totaled 157,000.
Majority shareholders of Ardshininvestbank are Center of Business
Investments LLC with an 86.82pct stake and IFC with a 10pct stake.