ACP (Armenia) retires registered coupon bonds

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Economy

31.03.2009, 14:52

On March 26, the Armenian Copper Program (ACP) Company retired registered coupon bonds. The ACP Information and Public Relations Department reports the amount of issue was 500mln AMD – 10,000 registered coupon bonds, the face value of each bond being 50,0

YEREVAN, March 30. /ARKA/. On March 26, the Armenian Copper Program (ACP) Company retired registered coupon bonds. The ACP Information and Public Relations Department reports the amount of issue was 500mln AMD – 10,000 registered coupon bonds, the face value of each bond being 50,000. The bond turnover is 18 months, the annual coupon yield being 10%.

The company does not rule out new cooperation under similar bond issue programs, the report says.

The bonds were placed on September 26, 2007, with the ArmSwissbank acting as organizer and principal underwriter. On February 11, 2008, the company’s bonds were included in the Bbond list on NASDAQ OMX Armenia.

Transactions worth a total of 738mln AMD were effected with the bonds in question on the secondary market (exclusive of REPOs) – 147.6% of the amount of issue. Of these, stock transactions worth 554mln AMD (110% of the amount of issue) were effected. REPO transactions worth a total of 676.6mln AMD were effected with the bonds in question – 135% of the amount of issue.

The ACP CJSC, which is part of the Vallex Group, was founded in August 1997 using the facilities of the Alaverdi mining and smelting plant. The enterprise specializes in producing copper and copper concentrates. P.T. –0--

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