Largest corporate bond program successfully completed in ArmeniaOctober 5, 2022 - 17:08 AMT PanARMENIAN.Net - The debut bond issues of Zangezur Copper Molybdenum Combine CJSC (ZCMC), the largest mining company in Armenia, for the total amount of USD 50 million and AMD 2.5 billion were fully redeemed on September 30, 2022, marking successful completion of the largest corporate bond transaction ever executed in Armenia. Ameriabank acted as the underwriter and market-maker of ZCMC’s bonds, thus once again putting into action its policy of supporting the economy of RA and the securities market, in particular. “The ZCMC’s bond program was an unprecedented initiative for the capital market of Armenia in terms of the offering size and investor participation. This transaction has proved that our bond market is capable of meeting the funding needs of Armenian companies, which is also proved by historical corporate bond placements arranged in Armenia by Ameriabank. We are confident that ZCMC’s successful bond program will become a benchmark for local companies in terms of raising funds from alternative finance sources”, - stated Gagik Sahakyan, Corporate and Investment Banking Director of Ameriabank. 3 years ago Ameriabank arranged ZCMC’s bond placement via public offering. The volume of the transaction was nearly five times the volume of the largest corporate bonds previously placed at the securities market of Armenia. The offering saw strong demand from both local and international investors. The investor book was anchored by prestigious international institutions such as the European Bank for Reconstruction and Development, the Black Sea Trade and Development Bank, the Eurasian Development Bank. Interest from the local market was not limited to institutional investors (fund managers, banks), many individuals got the opportunity to invest their savings in high-yield financial instrument. After primary placement, ZCMC’s bonds were listed and admitted to trading at Armenia Securities Exchange (AMX), where Ameriabank became the market-maker for the bonds, thus ensuring liquidity at the secondary market. Ameriabank is the largest financial institution and a major contributor to the Armenian economy, with assets exceeding AMD 1 trillion. Being a dynamically developing universal bank, Ameriabank provides a large package of innovative banking services through its omni-channel distribution platform and with clear focus on digital products. 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 | Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. |