Ameriabank and FMO signed an unprecedented convertible subordinated debt facility agreement
Media Room
Ameriabank CJSC and FMO (Netherlands Development Finance Company) signed a USD 20mln convertible subordinated debt facility agreement, on Oct 9, 2014. For the first time since the formation of the banking system of the RA a convertible subordinate debt agreement has been signed between an International Financial Institution (IFI) and an Armenian bank which symbolizes the growth of trust of international investors towards the Armenian banking sector.
Cooperation between FMO and Ameriabank dates back to 2009 by receiving of FMO’s first margin reduction for the successful implementation of an Environmental and Social Management System. Ameriabank has offered FMO the opportunity to strengthen the bank’s capital base by means of a mix of plain and convertible subordinated loan, which would allow FMO to become a shareholder upon conversion, and by that to provide support en route to Ameriabank’s aspirations of opening up the institution for global capital markets in the mid-term perspective.

Considering the exceptional shareholding structure and quality of corporate governance of Ameriabank in line with a solid promising growth trend of financial results, FMO has signed this agreement to support and fulfill the Bank’s imminent strategic goals as its valued partner. This facility generates development impact through the provision of long-term funding convertible into capital in support of further loan portfolio growth. This transaction is an opportunity for FMO to provide capital to a leading bank in Armenia, in support of a professional management team, and thereby extend a longstanding partnership as the bank plans to leap for the next stage in its development.

Ameriabank CEO, Mr. Artak Hanesyan stated “we are delighted with FMO’s trust and we do hope that our dynamic cooperation will last for years to come and the synergy will yield fruitful results to our organizations and the Armenian banking sector in general.”

FMO’s CEO, Mr. Nanno Kleiterp commented “We are proud of our successful partnership with Ameriabank and look forward to keep working with them on developing the Armenian banking sector in a responsible and sustainable way ”.

This USD 20mln subordinated debt facility agreement signed on Oct 9, 2014 between FMO and Ameriabank can be seen as a solid platform for the next higher level of partnership and cooperation between the two institutions. 
Updated 09.10.2014, 11:40
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