Ameriabank acted as a Lead Arranger and Bookrunner for Zangezur Copper Molybdenum Combine closed joint stock company’s (“ZCMC” or the “Company”) inaugural bonds. ZCMC, the largest taxpayer in the Republic of Armenia, successfully debuted in the Armenian capital markets with their $50mm and AMD 2.5 billion 3-year bonds offerings. Ameriabank will be also the market maker of the bonds on the Armenia Securities Exchange.

The offering saw a strong demand from both local and international investors, ensuring diversified allocation. The investors’ universe was dominated by high quality long-term  investors, with more than 75% of the USD tranche and 94% of the AMD tranche taken by institutional investors, mostly Multilateral Development Banks (MDBs), fund managers and banks. MDBs - European Bank for Reconstruction and Development (EBRD), Black Sea Trade and Development Bank (BSTDB) and Eurasian Development Bank (EDB) successfully anchored the transactions taking more than 50% of the $50mm offering. EDB acted also as a Co-Arranger for the offering. The transaction has an important development impact for the Armenian securities market.

Gagik Sahakyan, Corporate and Investment Banking director of Ameriabank commented, “ZCMC’s bond offering was a truly unprecedented transaction for the local market in terms of its size and investor participation. We are delighted to see the participation and invaluable support of our long-term partners EBRD, BSTDB and EDB in this remarkable transaction, which will contribute immensely to the promising future of Armenian capital markets”.

About ZCMC:

Zangezur Copper Molybdenum Combine CJSC is the leading mining company in the Republic of Armenia. The company operates the Kajaran mine, which is the largest one in South Caucasus by copper and molybdenum deposits. The company is the number one taxpayer as per most recent fiscal data and is a major contributor to the country’s GDP.