IDBank has successfully completed the placement of the first issue of bonds in 2019.

The bank said that bonds allocation started on February 20 and was completed on March 14, before the planned date.

“Bonds with nominal value of USD 5 million have been placed. The maturity of 2019 first issue of bonds is 2 years and 6 months, and annual coupon interest rate is 5.25%, which will be paid quarterly,” the bank added.

Deputy Chairman, Financial Director of IDBank Board Ruben Melikyan noted that more and more clients are choosing the IDBank bonds as a saving instrument, and experience shows that demand always exceeds the offer.

According to him, the bank is always ready to provide loans with bonds pledge to customers purchasing its bonds, with only 1 percentage point higher interest rate.

“IDBank will continue to maintain its leading positions in the market and will offer its customers new tranches this year. This issue of bonds will be listed on the Armenian Stock Exchange,” said
Ruben Melikyan.

IDBank issued the first tranche of bonds in 2016, after which it issued another six tranches of nominal coupon USD and AMD bonds, bringing the total amount to USD 30 million and AMD 1 billion.