770mln AMD transactions effected with first bond tranche of Valletta ltd in Armenia’s secondary market
07.02.2009,
01:35
Transactions to the amount of 770mln AMD were effected with the first tranche of nominal coupon nondocumentary bonds of the Valletta Ltd on the Armenian secondary market – over two time as much as the amount of issue, said Karen Turyan, Director of the In
YEREVAN, February 6. /ARKA/. Transactions to the amount of 770mln AMD were effected with the first tranche of nominal coupon nondocumentary bonds of the Valletta Ltd on the Armenian secondary market – over two time as much as the amount of issue, said Karen Turyan, Director of the Investment Department, ArmSwissbank CJSC.
A decision on the 350mln AMD issue of nominal coupon bonds (with a nominal value of each bond being 50,000 AMD) was made on June 19, 2007. The bond turnover was 18 months, annual bond yield 10.5% (semiannual coupon yield 5.15%). The bonds were placed on the Armenian Stock Exchange (ARMEX) July 31 through August 13, 2007, and were listed on the Bbond exchange on September 25, 2007.
Ten ex-pit transactions to the amount of 80.5mln AMD were effected before listing, the annual average market yield being 10.2%, Turyan told reporters at the international press center Novosti.
He pointed out that REPO transactions to the amount of 282.6mln AMD were effected with bonds – 80% of the amount of issue.
“We offer our clients, individuals and legal entities, short-term bonds, which is quite convenient for managing and ensuring sound liquidity,” Turyan said. He pointed out that all the payments were effected on time.
Armen Berberyan, Financial Director of the Valletta Ltd, said that all the bonds were successfully redeemed, and coupon payments ensured a yield of 10.5% to clients and 20-25 per cent to the most active investors.
The Valletta Company fulfills its commitments to all of its lenders, Berberyan said.
As of January 31, 2009, ninety-one transactions to the amount of 448.7mln AMD were effected on ARMEX – 128.2% of the amount of issue. The average cost of one exchange transaction was 10.51%.
The Valletta Ltd launched its activities in Armenia in 1990. The company specializes in trade (export, import, retail and wholesale), fast food (SFC), tea and coffee production, as well as in the development of enterprises that start operating as independent enterprises later. The company comprises processing enterprises, restaurants, store chains, firms importing household appliances.
Early in December 2007 the Valletta Company floated a second issue of nominal coupon nondocumentary bonds, and last September a third issue of partly paid bonds. The amount of both issues reached 1bln AMD.
The ArmSwissbank CJSC acted as underwriter for the issues of the Valletta Ltd’s securities.–0--
A decision on the 350mln AMD issue of nominal coupon bonds (with a nominal value of each bond being 50,000 AMD) was made on June 19, 2007. The bond turnover was 18 months, annual bond yield 10.5% (semiannual coupon yield 5.15%). The bonds were placed on the Armenian Stock Exchange (ARMEX) July 31 through August 13, 2007, and were listed on the Bbond exchange on September 25, 2007.
Ten ex-pit transactions to the amount of 80.5mln AMD were effected before listing, the annual average market yield being 10.2%, Turyan told reporters at the international press center Novosti.
He pointed out that REPO transactions to the amount of 282.6mln AMD were effected with bonds – 80% of the amount of issue.
“We offer our clients, individuals and legal entities, short-term bonds, which is quite convenient for managing and ensuring sound liquidity,” Turyan said. He pointed out that all the payments were effected on time.
Armen Berberyan, Financial Director of the Valletta Ltd, said that all the bonds were successfully redeemed, and coupon payments ensured a yield of 10.5% to clients and 20-25 per cent to the most active investors.
The Valletta Company fulfills its commitments to all of its lenders, Berberyan said.
As of January 31, 2009, ninety-one transactions to the amount of 448.7mln AMD were effected on ARMEX – 128.2% of the amount of issue. The average cost of one exchange transaction was 10.51%.
The Valletta Ltd launched its activities in Armenia in 1990. The company specializes in trade (export, import, retail and wholesale), fast food (SFC), tea and coffee production, as well as in the development of enterprises that start operating as independent enterprises later. The company comprises processing enterprises, restaurants, store chains, firms importing household appliances.
Early in December 2007 the Valletta Company floated a second issue of nominal coupon nondocumentary bonds, and last September a third issue of partly paid bonds. The amount of both issues reached 1bln AMD.
The ArmSwissbank CJSC acted as underwriter for the issues of the Valletta Ltd’s securities.–0--
