ARMENIAN ARDSHINBANK RAISES $75 MLN WITH INAUGURAL BOND ISSUE
Reuters
Dec 10 2014
YEREVAN Wed Dec 10, 2014 6:01pm IST
YEREVAN Dec 10 (Reuters) – Armenian commercial bank Ardshinbank
raised $75 million from international investors through a Reg S senior
unsecured private bond placement, the bank said on Wednesday.
“The transaction marks the inaugural note offering for Ardshinbank
and represents the first offering of its kind from any private sector
entity in Armenia,” the bank said in a statement.
“The proceeds of the offering will be used to support Ardshinbank’s
planned expansion strategy, one of its main corporate goals.”
Ardshinbank said it had made the amortising three year Loan
Participatory Note (LPN) placement with the help of J.P. Morgan
Securities PLC., which acted as the sole-lead manager for the
transaction.
Moody’s provisionally rated the issuance Ba2 with stable outlook.
The notes are listed on the Vienna Stock Exchange and clear through
Euroclear and Clearstream.
“This is a remarkable step not only for our bank, but also for our
country, as this issuance helps put the Armenian private sector on
the map of international financial markets,” said Mher Grigoryan,
the Ardshinbank CEO. (Reporting by Hasmik Lazarian; Writing by
Margarita Antidze; Editing by Crispian Balmer)
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
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