ARMENIAN CENTRAL BANK DECLARED THE BONDS OF "SHEN CONCERN" RELIABLE AND CONCLUDED REPO AGREEMENTS WITH IT
Mediamax Agency, Armenia
Feb 27 2007
Yerevan, February 27 /Mediamax/. "Shen Concern" has successfully
placed its bonds in the Armenian Stock Exchange.
Mediamax reports that the Central Bank of Armenia declared the bonds of
"Shen Concern" reliable and concluded repo agreements with it. The
volume of the repo agreement, concluded for the term of 7 days,
made 18.558.5 thousand AMD at the interest rate of 4,75%.
As the Chairman of the "Shen Concern" CJSC Samvel Beglarian stated
today, the whole volume of the placed bonds made 40mln AMD at the
bond-equivalent yield of 9% and the term of retirement of 1 year.
The Chairman of the Armenian CB Tigran Sarkisian reminded that the
Central Bank started the realization of the project on bringing
the Armenian enterprises out on the Exchange 2 years ago. Several
companies have already expressed their readiness to place their bonds
on the Armenian Stock Exchange.
All in all, the Central Bank has carried out the rating processes of
45 enterprises. Tigran Sarkisian noted that brining out the companies
on the exchange is to increase the efficiency of the money-credit
policy, develop the financial market, and stimulate the realization
of transparent activities by the real sector of economy.