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Regional

Armswissbank: The mid-term bonds of the National Mortgage Company (NMC) (of the 10th tranche) are a profitable and effective injection

  • by Elita Babayan

  • Wednesday, May 28, 05:42

The mid-term bonds of the National Mortgage Company (NMC) (of the 10th tranche) are a profitable and effective injection,_ deputy executive  director, head of the investment department of Armswissbank, being the market-maker of the corporate papers of the NMC, Karen Turyan, told Arminfo correspondent.  He recalled that the demand for the corporate mid-term bonds of the NMC surpassed supply by 2,5 times and amounted to about 2,5 billion AMD in the conditions when the placement was guaranteed. 

He said that as a market-maker the bank purchased just 50 million AMD. 

When touching on the general market tendencies, he said a tendency of decrease of interest rates of the state bonds has been noticed at the securities market. This raises attractiveness of the corporate securities. He thinks that by the end of 2014, when the issue of introduction of the mandatory pension system will be  finally resolved in Armenia, the activeness among  potential issuers  of the bonds will grow. 

On 19 May 2014 NASDAQ OMX Armenia granted "Armswissbank" cjsc, which is the exchange member since September 14, 2007, status of market maker for the 10th issue of corporate bonds, issued by "National Mortgage Company" RCO CJSC (NMCCB2A) and listed on the exchange's Abond list. 
To note, on 15 May 2014 this issue of the NMC's bonds comprising 10,000 coupon bonds for a total value of AMD 1 bln, maturity period of 36 months and coupon yield of 10%, was listed on Abond list of NASDAQ OMX Armenia and allowed to manual and REPO trading. 

As a market maker of mentioned bonds, Armswissbank will provide liquidity, thus enhancing investors' opportunity to buy and sell the bonds in the secondary market. Noteworthy that Armswissbank is also the market maker of the common nominal stocks issued by "Artsakh HEK" ojsc (AHEK) and listed on NASDAQ OMX  Armenia's secondary (B) list.
Armswissbank was established on October 7, 2004 as a closed joint stock company and on February 25, 2005 was granted banking license N84 by the Central Bank of Armenia. The Bank's shareholders are Mr. Vardan Sirmakes:  CEO, founder and 100% owner of "Frank Muller Watchland" company and BELEGGINGSMAATSCHAPPIJ JONGO B.V., owning 80% and 20% of the Bank's shares, accordingly. Armswissbank works in three main directions: corporate, investment and private banking.

 

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