On July 29, the European Bank for Reconstruction and Development (EBRD) placed its fourth issue of Armenian Dram (AMD) denominated bonds (EBRDB4) at NASDAQ OMX Armenia.

The floating rate bonds for a total amount of AMD 2 billion were placed successfully through the stock exchange mechanism.

The coupon rate is referenced to 6-month AMD T-Bill rate published by the Central Bank of Armenia (CBA) plus a margin of 0.25%. Cut-off rate was set during the auction at 12.0328%.

The placement was organized by Ameriabank CJSC, with the total number of bidder market participants being 3.

Details of the placement are available here.