PRIVATE COMPANY ISSUES FIRST BONDS
ARMENPRESS
Jul 27, 2007
YEREVAN, JULY 27, ARMENPRESS: A private Armenian company has announced
today the issuance of 350 million Armenian Drams worth 7,000 bonds
with a 10.5 percent annual interest rate and 18 month maturity period.
The value of each of the bonds issued by Valletta company is 50,000
Drams (about $147).
Henrik Zakharian, the founder and a major shareholder, praised the
Central Bank’s policy during the presentation ceremony saying it was
very instrumental in their decision to enter the corporate market.
Valletta company owns a chain of shops selling sanitary equipment
and meat and coffee processing workshops.
Central Bank governor Tigran Sarkisian said bonds will give this
company extra opportunities to enlarge its businesses. He also promised
Central Bank’s assistance to all companies which will decide to follow
the example of Valletta.
He said another company is going to issue its bonds soon, but declined
to name it.