Yerevan /Mediamax/. “Ardshininvestbank” announced today the first issue of its nominal coupon bonds at the volume of 1.5bln AMD##.

Mediamax reports that the Chairman of “Ardshininvestbank” Board of Directors Aram Andreasyan stated today that such an issue is unprecedented for Armenia.

The nominal price of the bonds makes 10 thousand AMD, the total volume – 1,5bln AMD, the number of issued bonds – 150 thousand, maturity term – 12 months, the annual coupon yield – 10%. The bonds are non-documentary, non-convertible.

According to the Deputy Chairman of “Ardshininvestbank” Board Sergey Virabyan, the issue is significant by the fact that the bonds are subject to redemption by the bank in the whole course of circulation at the price, established by the issuer beforehand. The investments of individuals in “Ardshininvestbank” bonds are considered a banking deposit and are guaranteed by Armenia’s Fund for Guaranteeing Deposit Compensation.

“Ardshininvestbank” bonds will undergo listing on Armenian Stock Exchange (Armex) in the course of 10 days from the day of their placement.

Chairman of the Central Bank of Armenia (CB) Artur Javadyan stated that the issue of “Ardshininvestbank” is a good opportunity, in particular, for foreign investors. He noted that the stability of the banking system and good macroeconomic indexes should attract foreign investors to Armenia, especially in conditions of the global financial crisis.

The start of subscription for “Ardshininvestbank” bonds is on November 10, the duration – 25 calendar days, the bond placement will take place on December 5, 2008. The repayment and the payments on bonds will be realized in AMD through a transfer to the bank accounts in the course of 2 working days from the moment of repayment.