On 31 January 2014 European Bank for Reconstructions and Development (“EBRD”) placed its 1st Armenian Dram (“AMD”) denominated bonds via an auction that took place at NASDAQ OMX Armenia.
The floating rate Notes for a total amount of AMD 2 billion were placed successfully through the stock exchange mechanism. The coupon rate is referenced to 6-month AMD T-Bill rate published by the Central Bank of Armenia (“CBA”) with a margin of 0.30% per cen per annum. Cut-off rate was set during the auction at 8.555%.
This is the first public placement of bonds in Armenia by an international financial institution, completed through the stock exchange mechanism, which widens the customer base of NASDAQ OMX Armenia by using its technologies in the securities placement process and creates grounds for enhancement of investment opportunities in Armenian capital market.