The European Bank for Reconstruction and Development (EBRD) has issued floating-rate coupon bonds on the corporate securities placement platform of the Armenian Stock Exchange (AMX). The guaranteed placement of the bonds was carried out by the member of AMX, Converse Bank. The total issuance volume was 5,000,000,000 AMD, of which 400 bonds with a nominal value of 10,000,000 AMD were placed through the AMX platform, totaling 4,000,000,000 AMD. The bonds have a maturity of 36 months, with a floating coupon linked to the yield of 6-month Armenian government bonds, and a semi-annual payment frequency.
As a result of the placement:
- the total volume of submitted bids was 3,320,000,000 AMD, and the total volume of accepted bids was 2,320,000,000 AMD,
- the average weighted price was 100.0132, while the auction cutoff price was 100.0
- the auction cutoff yield was 6.8359, and the average weighted yield was 6.8310
- the maximum auction price was 100.0960, and the minimum was 0
- 100% of the submitted bids were satisfied at the cutoff auction price
The last time EBRD bonds were traded on the Armenian Stock Exchange was in 2014-2016, with individual issuance volumes of around 2,000,000,000 AMD or the equivalent in dollars, and maturities of 6-12 months.
