BSTDB Issues its Debut Local Currency Bond in Armenia

News | 27-Jun-2017

Today, the Black Sea Trade and Development Bank issued an AMD 2 billion bond, by auction, on the Armenian Nasdaq OMX. The bond, which has a three year maturity and a coupon of 8.455%, payable semi-annually, was sold at a small premium to give an average yield of 8.3481%. The issue was oversubscribed – with received bids totalling AMD 2.691 billion.

The proceeds of the bond issue will be used by BSTDB to offer much-needed local currency funding to Armenian clients and will contribute to the implementation of Bank's country strategy for Armenia.