Armenia Issues Savings Bonds

Here's the scoop:

The Ministry of Finance and Economy of Armenia will issue on January 16 state savings coupon bonds with 7% bond-equivalent yield per year.

...the volume of the bonds will make 100mln AMD.

The bonds will be available for purchase only for natural persons and only in the centers of the Treasury of the Armenian Ministry of Finance and Economy. The term for free sale of the bonds is established till April 6 of 2007 inclusive. The coupon payments will be realized quarterly. The retirement of bonds will take place on July 16 of 2007. On January 16 the bonds will be sold at the price of the face-value, afterwards - with an extra charge to the face-value.

AMD 100,000,000 is about $270,000. It will serve as a great introduction to bonds, investing, and hopefully increase faith in important institutions.

Source: Mediamax