Yerevan /Mediamax/. First tranche of “Inecobank” CJSC corporate discount bonds at the volume of 350mln AMD is fully placed.

Broker dealer of “Capital Asset Management” Investment Company Alik Arakelyan informed Mediamax on this today. The given company is the underwriter of “Inecobank” bonds placement.

According to Alik Arakelyan, the placement, which lasted from March 25 to April 27, concluded successfully. All in all, 7000 bonds at the nominal value of 50 thousand AMD, were placed. The bonds were purchased by individuals and one legal entity.

The annual yield of the bonds makes 9.5%. The repayment date – March 25, 2010. The prospectus of the issue notes that the means, attracted as a result of the placement, will be directed to crediting.

Alik Arakelyan informed that the total gains from the sale of the bonds made 321mln 827 thousand 959.6 AMD. 

The prospectus of the issue is available at “Inecobank” and “Capital Asset Management” websites (http://www.inecobank.am/, http://www.capital.com.am/).

The total volume of “Inecobank” corporate bonds issue made 2.7bln AMD. The total quantity of bonds makes 54 thousands, 37 thousands of which will be placed in the form of discount bonds with maturity term of 365 days and the remaining 17 thousand bonds will be placed in the form of coupon bonds with the maturity term of 18 months. The bonds are non-convertible. The issue of the bank’s bonds was realized in cooperation with U.S. Agency for International Development (USAID), which provides 50% guarantee to investors, who purchase the bank’s bonds.