Announcement

Collapse
No announcement yet.

Dept Market In Armenia Shows 4-Fold Growth For May 2009

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Dept Market In Armenia Shows 4-Fold Growth For May 2009

    DEPT MARKET IN ARMENIA SHOWS 4-FOLD GROWTH FOR MAY 2009

    ArmInfo
    2009-06-01 15:29:00

    ArmInfo. Since the national dram devaluation shock in March, the debt
    market of Armenia has gradually recovered. Over May 2009, corporate
    bonds transactions grew almost 4 times to 1.1 billion drams. Last
    month the market suffered 5-fold decline.

    By data of NASDAQ OMX Armenia, 62 transactions involving the bonds
    of 10 issuers were registered in May. IMEX GROUP was the leader both
    by the volume and quantity of operations: 17 transactions for 193.4
    million drams. ELITE GROUP bonds transactions proved in the last
    position: 1 transaction for 599.7 thousand drams.

    Tim Slater, HSBC Bank Armenia CEO, told ArmInfo the upward trends
    in the dept market in Armenia were connected with certain growth of
    interest rates.

    T. Slater brought another important factor i.e. reduction of interest
    rate on REPO-agreements by 1% by the Central Bank of Armenia. This
    factor may boost trading and lead to growth of corporate bonds
    transactions, he said.

    Nevertheless, he said, new issues were the key factor defining the
    activity in the market. T. Slater said HSBC Bank Armenia is not
    planning a second issue of bonds for the nearest future. He said
    the Bank will study this issue as the population trust in national
    currency is regained.

    By the latest data of NASDAQ OMX Armenia, corporate bonds of
    11 emitters are quoted at the exchange at present : ARARATBANK
    (second-issue bonds), Converse Bank, HSBC Bank Armenia, INECOBANK,
    ELITE GROUP (first- and second-issue bonds), IMEX GROUP, ArmRusgasprom,
    SHEN CONCERN (fourth-issue bonds), Tornton, Valletta (second- and
    third-issue bonds), Ardshininvestbank.
Working...
X