Yerevan, September 25 /Mediamax/. The presentation, devoted to the placement of bonds of the Armenian Copper Programme (ACP) Company, making part of the “Vallex Group”, took place in Yerevan today.

Mediamax reports that the Executive Director of ACP Gagik Arzumanian stressed that the placement of bonds is the first step of “Vallex Group” on the way of entering the financial market of the country, and it opens a prospect for attracting larger long-term financial resources in the future.

The total volume of the issue of nominal coupon bonds makes 500mln drams, the face value of each – 50 thousand drams, the number – 10 thousand, the annual interest rate – 10%, the repayment term – 18 months.

The organizer of the bonds issue and the general underwriter is “Armswissbank” CJSC.

For organizing the placement of 80% of the ACP bonds, there is a syndicate formed, which includes “Armswissbank” (50% of the placement volume, at the sum of 250mln drams), “Armenian Development Bank” (20% of the placement volume, at the sum of 100mln drams) and the “Future Capital Market” investment company (10% of the placement volume, at the sum of 50mln drams).

The remaining 20% of the bonds at the sum of 100mln drams are planned to be placed by means of an open subscription.

According to the Chairman of the Central Bank of Armenia Tigran Sarkisian, “it is very important for us that such an advanced company as ACP is participating in the development of the securities market”.