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 | Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. CSTO recognizes Armenia’s sovereign right to withdraw Tasmagambetov has said that if Armenia decides to leave the organization, “it will be the sovereign right of Armenia.” |