Time in Yerevan: 11:07:36,   19 May

Ucom issues USD and AMD bonds with annual yield of 7.5% and 11% respectively


YEREVAN, MAY 17, ARMENPRESS. Co-founder and Director General at Ucom Hayk Yesayan announced the issuance of AMD and USD bonds during today’s press conference. The volume of bond issuance is $5 mln with annual yield of 7.5%, and 250 mln AMD with annual yield of 11%. The nominal coupon bonds with a maturity period of 36 months will be distributed through Armenbrok OJSC during the period from 16 May to 15 July 15, 2019, reports Armenpress.

Ucom will invest the funds raised through the issuance of bonds in introduction of innovative technologies for its fixed and mobile subscribers.

The nominal price per 1 bond is $100 and 100 000 AMD respectively. All interested individuals and legal persons may purchase Ucom bonds. The coupons will be paid on a quarterly basis.

“With the issuance of bonds, Ucom not only diversifies its credit instruments, but also reaffirms its commitment to a transparent and accountable business style inherent in public companies, thus becoming more open and attractive to investors and taking the first step into the international capital market. It is also noteworthy that with this step we are creating a new culture of communication with subscribers, providing an opportunity to receive income from the company for the services of which they pay. That is, the subscribers will contribute to the introduction of innovative technologies and the improvement of the quality of services they use. I would like to emphasize that the attractiveness of Ucom bonds is due to their higher interest rate compared to the deposit rates in the Armenian banking system and stable financial performance of our company”, Hayk Yesayan said.

Ucom’s Co-founder is confident that the issuance of corporate bonds by non-financial companies will revive the bond market, increase the investment potential of the Republic of Armenia and contribute to the development of the country's economy.

“Bonds are quite attractive securities for both experienced and novice investors. They not only provide a high fixed income, but are also a more flexible instrument as compared to bank deposits, since the investor can sell the purchased securities or part of them on the secondary market at any time without losing the accumulated income. In particular, Ucom bonds claim to be among the most attractive and interesting instruments of the securities market. Following their initial distribution, Ucom bonds will circulate in the Armenian stock exchange, where Armenbrok will also play the role of market maker of these securities, guaranteeing constant liquidity of bonds”, said Aram Kayfajyan, General Director of Armenbrok OJSC.  

It should be added that in order to buy bonds, individuals should apply to the underwriter, i.e. Armenbrok investment company (32/1 Tigran Mets Ave.) and submit their passport and social card, or identification card, as well as AMD and USD accounts opened in any bank of the Republic of Armenia. Armenbrok will also have its representative at Ucom service center on 4/7 Amiryan street.

 




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