Placement of the thirteenth issue dollar bonds completed

ARARATBANK OJSC completed initial public offering of dollar bonds on 28 October of this year. Subscription process actually ended on 24 October, as interest in bonds was high enough with demand having exceeded supply by 41%. As a result, issued bonds had been completely sold before the end of subscription.          

The issue volume makes USD 1 million at 6.5% annual yield and maturity of three years. Bonds were acquired by 26 individuals and 3 legal entities.  In terms of volume, 73.33% of investors constitute individuals, and 26.67% legal entities.

Bonds will be transferred to customers within one working day to the relevant customer accounts and will be listed at NASDAQ OMX ARMENIA stock exchange within 10 working days, ensuring free turnover. Market maker function of the bonds will be carried out by Renesa Investment Company.         

In addition, the previous 4 dollar bonds and 1 bond denominated in Armenian drams by ARARARTBANK are currently in circulation, which are quoted in NASDAQ OMX ARMENIA stock exchange. 

Pursuant to the Armenian law "On Guarantee of remuneration of banking deposits of physical persons", cash funds attracted via nominal bonds issued by the bank shall be deemed guaranteed bank deposit and are guaranteed by the Armenian Deposit Guarantee Fund.