Regional

Since 2011 National Mortgage Company has placed 11 issues of bonds in an amount more than 10 billion AMD

  • by Gayane Isahakyan

  • Thursday, July 17, 13:41

 Since 2011 National Mortgage Company has placed 11 issues of bonds in an amount more than 10 billion AMD, Director of the National Mortgage Company, Mher Edigaryan, said at today's press-conference. Within the frames of the first 9 tranches, the bonds were short-term and of the last two - mid-term.

"At present, the company makes the first steps towards unification of the mortgage market with the capital market. As international experience shows, this is the most effective way for raising availability of the mortgage crediting", - Edigaryan said.

He said that in the near future the company is planning the emission of the long-term bonds with a repayment period 10 years and more. "This will make it possible to have "long term money" and later place them at the credit market", - he said. 

Director General of NASDAQ OMX Armenia, Konstantin Saroyan, added that at present the National Mortgage Company is the most active participant in the Armenian market, and the information about it was shown at the screens of the building of New York Stock Exchange. 

To recall, in July 11, 2014 the eleventh issue of corporate bonds by "National Mortgage Company" Refinancing Credit Organization CJSC (NMC RCO) listed at NASDAQ OMX Armenia on the main Abond list. 

National Mortgage Company RCO CJSC was registered in the Central Bank of Armenia by the decision N 1/1167A of the board of the Central Bank of Armenia dated October 19, 2011 Registration certificate N 26, Activity License N 26). The only shareholder is the Central Bank of Armenia. As of 23 April 2014, the total amount of loans refinanced by the National Mortgage Company was 36 bln AMD (4482 loans). As of 1 April 2014, the company's assets totaled 31.6 bln AMD, and the total capital amounted to 10.8 bln AMD.  In Q1 2014 the retained profit of the company totaled 167.3 mln AMD. 

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