Armenian government will support ASCE Group in issuing bonds

ArmInfo.On February 5, a contract signing ceremony was held at the RA Ministry of Economy with  ASCE Group OJSC, in the presence of Economy Minister Gevork Papoyan.

As reported by the press service of the Ministry of Economy, ASCE  Group OJSC will receive assistance under the state program to support  issuance and rating. The company has issued, placed and listed bonds  totaling15 billion drams and 15 million US dollars.  The agreement  was signed by Secretary General of the Ministry of Economy of the  Republic of Armenia, Haykaz Nasibyan, and Director of OJSC, Hrachya  Muradyan.

Initially, the company will receive support for  issuing dram bonds  worth 30 million drams. If the company meets the program requirements  over the next 3 years, it may receive additional support in the  amount of 135 million drams. The state support program for emission  and rating, approved by government decree, aims to promote the  development of the capital market, support bonds and share issuance  by companies in the real sector, and help them obtain international  ratings. In the case of bond issuance and listing, support is  provided amounting to 11% of the bond issue volume. ASCE Group OJSC   is the third beneficiary of the program.