ACBA-Credit Agricole Bank will place bonds with annual yield of 5.5%August 16, 2017 - 17:50 AMT 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. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Erdogan wants “realistic road map” for relations with Armenia Turkish President Recep Tayyip Erdogan has called for a “new realistic road map” for relations with Armenia. Armenia-Azerbaijan: Experts launch work on determining coordinates Expert groups from the countries started the process of determining the coordinates based on geodetic measurements. Yerevan says did not expect CSTO in peacekeeping role Pashinyan has declared that the CSTO would be expected to come to the Armenia-Azerbaijan border as an ally of Armenia Henrikh Mkhitaryan wins Serie A title with Inter Inter Milan midfielder Henrikh Mkhitaryan admits that the team have long been imagining clinching Serie A against AC Milan. |