Friday, October 24 2014

NASDAQ OMX Armenia has provided ArmSwissBank with a status of market maker of the twelfth issue of bonds of the National Mortgage Company (NMC). The press service of ArmSwissBank has told ArmInfo that this status will enable the Bank to ensure continuous bilateral quotations for NMC's bonds, thereby raising the bond liquidity in the secondary market. 

ArmSwissBank holds one of the leading positions in the Armenian banking system in terms of investment services. 

On October 22, 2014 the twelfth issue of corporate bonds by "National Mortgage Company" Refinancing Credit Organization CJSC (NMC RCO) was listed at Nasdaq OMX Armenia on the main Abond list, NASDAQ OMX Armenia reported. The Company's bonds comprising of 100,000 coupon bonds with nominal value of AMD 10,000, coupon yield of 10%, maturity period of 3 years will be traded under NMCCB2C ticker symbol and allowed to manual and REPO trading as well.

To recall, on October 7, 2014 placement of this issue of corporate bonds by NMC RCO took place at Nasdaq Armenia.  Purchase orders for a total of AMD 2,390,393,431.5 were placed for the Company's bonds, as a result of which the bonds were fully placed. The Issuer has attracted AMD 1,005,155,561.5 from placement. The cut price of the bonds was AMD 10,020.33, weighted average yield was 9.7975% and the cut yield stood at 9.92%. 

This is the third issue of the Company's bonds listed on the main Abond list. In addition, two more issues (the 7th and the 9th) of NMC's corporate bonds are currently listed on Cbond. NMC entered the capital market of Armenia in November 2011 with a 1 billion AMD issue and a 9.6% yield.  

To note, National Mortgage Company RCO CJSC was founded on 16 June 2009 by the decision of the Central Bank of Armenia. As of 23 April 2014, the total amount of the loans refinanced by NMC totaled 36 billion AMD (4482 loans). As of 1 July 2014, NMC's assets amounted to 33.4 bln AMD (2nd rank in the market of credit companies), and the total capital amounted to 11 bln AMD (3rd rank). At the end of H1 2014, NMC's net profit totaled 322.5 mln AMD (4th rank).