ACBA-Credit Agricole Bank will place bonds with annual yield of 5.5%

PanARMENIAN.Net - ACBA-Credit Agricole Bank will start on Friday, August 18 placing coupon non-documentary bonds through a public offering with $5 million total value, an annual yield of 5.5% and 30 months of maturity period. The nominal value of one bond will stand at $100.

“This is the first issuance of bonds by the ACBA-Credit Agricole Bank, but this process will continue in the future. We aim to contribute to the development of our country’s capital market, offering floating rate bonds at all times. The bank’s bonds will serve as alternatives to savings and investments for our clients, while the placement will help direct financial means to the real sector of the economy,” said Styopa Zakinyan, Chief Financial Officer, Deputy CEO at ACBA-Credit Agricole Bank.

Each investor can acquire at least 5 and up to 10.000 bonds. The placement will end no later than November 18.

Under Armenia’s law on guaranteeing compensation of bank deposits, cash resources attracted via the bonds issued by the bank are considered bank deposits and are guaranteed by the Deposit Guarantee Fund of Armenia. To acquire bonds, investors should fill in relevant applications and submit them to ACBA-Credit Agricole Bank.