AMERIABANK PLANNING ISSUE OF CORPORATE BONDS HEDGING FOREIGN EXCHANGE RISKS

ArmInfo
2009-07-22 15:12:00

ArmInfo. Ameriabank is planning an issue of corporate bonds hedging
foreign exchange risks by means of financial instruments at the end
of the year, Ameriabank Director for Development Tigran Jrbashyan told
media on Wednesday. The issue will total several billion drams and the
yield will be commensurately to the yield in the market at that moment.

T. Jrbashyan said the issue terms are connected with the activity
of issuers and investors in the capital market of Armenia expected
at the end of the year. In addition, he forecasts that interests
rates in the market will be reduced as CB reduced refinancing rate
and regulators are implementing refinancing programs. All this will
encourage emitters to issue new corporate bonds.

As regards the possible adoption of a law allowing issue of debt
securities in freely convertible currency, T. Jrbashyan said there is
deferred demand in the debt market of Armenia by corporate emitters
for issue of bonds.

‘Adoption of the given law will have an explosive effect leading to a
great number of new issues that were postponed influenced by certain
external and internal factors. The law is likely to be adopted which
will attract the interest of investors and boost financial flows’,
he said.