BSTDB Contributes to Debut Bond Offering of ZCMC, Armenia’s Copper Molybdenum Combine

News | 14-Nov-2019

BSTDB contributed USD 5 million to the inaugural USD 50 million 3-year local bond offering by Zangezur Copper Molybdenum Combine, an industrial major and the largest taxpayer in Armenia.  BSTDB, together with peer multilateral development banks – the EBRD and Eurasian Development Bank – took more than 50% of the offering. The transaction has an important development impact for the Armenian securities market.

The offering arranged by Ameriabank included the USD 50 million and AMD 2.5 billion 3-year bonds and saw a strong demand from local and international long-term investors. 

Zangezur Copper Molybdenum Combine CJSC (ZCMC) is the leading mining company in the Republic of Armenia. The company operates the Kajaran mine, the largest in South Caucasus by copper and molybdenum deposits. The company is a major contributor to the country’s GDP.