ARARATBANK OJSC completed the primary placement of bonds

On July 22 of this year ARARATBANK OJSC completed the primary placement of the 12^th issue AMD bonds. Subscription process was actually completed still on July 20, because interest in bonds was great indeed with the demand having exceeded supply by 39%. As a result, issued bonds have been completely sold out prior to the expiry of the subscription.With 13% annual yield and a two-year maturity, the issuing volume made AMD 400 million. Bonds have been acquired by 59 individuals and 5 legal entities. In terms of the volume, 15.75% of investors made individuals and 84.25% - legal entities.

   Bonds will be transferred to the relevant customer accounts within one working day and will be listed at NASDAQ OMX ARMENIA stock exchange within 10 working days, thus, ensuring turnover. The function of a market maker of bonds will perform Renesa Investment Company. In addition, USD bonds of four issues by ARARATBANK OJSC are presently in circulation and are quoted at NASDAQ OMX ARMENIA stock exchange. 

    According to the Law of Republic of Armenia "On Guarantee of Compensation for the Banking Deposits of Physical Persons", funds attracted by nominal bonds issued by the bank shall be considered guaranteed bank deposits and are guaranteed by the Deposit Guarantee Fund.