2023-12-19 18:17:44
On December 18, the solemn ceremony of issuing the bonds of the “Electric Networks of Armenia” PB company took place.
For the first time, the company issued bonds in the capital market of Armenia in the amount of 32 billion drams, with an interest rate of 11.4%, with a maturity of 3 years and with semiannual coupon payments. The underwriter of the bonds is Ameriabank.
The purpose of issuing bonds is to refinance the Company’s loans, as well as to ensure the continuity of the investment program aimed at reducing electricity losses, expanding the distribution network, reducing operating costs, increasing the quality of service, connecting new customers to the network, and modernizing electricity metering systems.
The main potential investors of bonds are Armenian banks and pension funds, but at the same time, the process of purchasing bonds is maximally simplified for individual investors. anyone who wants to can buy HEC bonds completely online and automatically, using the MyInvest platform of the MyAmeria application.
Once listed on the Armenian Stock Exchange, the bonds are also expected to have an active and deep secondary market, thanks to the already formed diversified investor base, unprecedented bond volume and professional market makers.
“The placement of own bonds in the financial market of Armenia, I think, will contribute to the development of the financial market, will promote closer interaction of its key participants”, – noted Karen Harutyunyan, general director of “Armenia Electric Networks” company, – “The guarantees of the financial stability of the HEC are stable, established and transparent regulatory environment, long-term mechanisms for compensation of costs and investments, predictable and calculable cash flows, lack of risk caused by changes in electricity volumes”.
“It is a great honor for Ameriabank to play a key role in the process of issuing and placing bonds of Armenia’s electricity networks. This is a historic event for the Armenian capital market, as it is the largest placement of bonds ever realized with a total volume of 32 billion drams. It is also significant that the issue is carried out in Armenian drams, contributing to the confidence in the national currency and increasing the investment attractiveness of the country,” said Artak Hanesyan, General Director of “Ameriabank” CJSC.
It should be noted that the prospectus for the issuance of bonds of “HETC” CJSC was registered by the Central Bank of Armenia.
About “HETC” CJSC
The company “Electric Networks of Armenia” is engaged in the distribution and supply of electricity in the territory of the Republic of Armenia. It uses its own 0.4-110 kV overhead and cable power transmission lines, substations and distribution points for power transmission. Has more than 1 million subscribers. It is the largest employer in Armenia.
Included in the “Tashir” group of companies.
About Ameriabank
Ameriabank is a leading financial and technological institution, one of the significant actors of the RA economic sphere, whose assets exceed AMD 1 trillion. Following the path of digitization, the Bank has implemented a number of innovative programs and platforms and continues to improve them, forming a dynamically developing financial-technological environment aimed at satisfying various human needs.
Being customer-oriented, Ameria strives to provide high quality service by offering complete solutions to improve the quality of life in a trusted and secure financial technology environment.
Ameriabank is controlled by the RA Central Bank.
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