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SAS Group, Ameriabank to launch joint foreign currency bonds

November 30, 2012 Armenian News - Tert.am
SAS Group LLC, a leading retailer in importing goods to Armenia, and Ameriabank CJSC, are going to issue joint bonds with foreign currency to raise the profitability of investments in nominal coupon bonds.

“The annual nominal profitability of the bonds offered is 10.1%, which will be paid twice every year. The project aims to sponsor and expand the retail network,” SAS Group Director Stepan Sahakyan told reporters on Friday.

Ameriabank will be in charge for allocating the bonds from December 6, 2012 until January 10, 2013. The foreign currency bonds offer reasonable terms to any investor, according to the head of the bank’s Investment and Banking Operations Department, Arno Mosikyan.

“The initiative is really a historic one as it will enable us to attract a flow of capital to the domestic market from abroad, including both Russia and the United States,” he said.

By purchasing the bonds and keeping them for two years, a natural person can get the coupon income announced earlier, Mosikyan explained, adding that a cash sum would also allow an individual to pawn the bond or sell it on the market.

“Unlike deposits, the bonds’ daily income accrues to accounts. In case of an early deposit payoff, the interest rates are recalculated, but that isn’t the case with bonds,” said Movsisyan.

Each bond has a nominal value of $10. It is planned to allocate 700,000 bonds in the amount of $7 million for a two-year circulation period.

The coupon checks will be paid every six months in the amount of 5.05% of the bond’s nominal value. The payments are due on June 6, 2012, December 6, 2014, June 6, 2014 and December 6, 2014.

The Ameriabank representatives said additionally that they have launched a new marketing program aimed at transferring amounts from the card holders cash transactions (AMD 1/AMD1,000) to the treatment of children registered in the Donate Life Foundation.
  • Status
    redeemed
  • Country of risk
    Armenia
  • Redemption (put/call option)
    *** (***)
  • Amount
    7,000,000 USD
  • М/S&P/F
    — / — / —
Company — SAS Group
  • Full name
    SAS Group
  • Industry
    Trade and retail