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Telecom
July 2019 www.intellinews.com I Page 15
Armenia’s Ucom places local currency and USD bonds
Armenian internet and telecom services provider Ucom said on July 17 it completed the placement of Armenian-dram bonds with an annual coupon yield of 11% and USD bonds with an annual cou- pon yield of 7.5%.
Over 200 individuals and organisations, including pension and investment funds, banking, invest- ment and high-tech organisations, were among the purchasers of Ucom bonds, the company said in a press release.
“Such interest and trust in Ucom are really oblig- ing. The issue of bonds was a new challenge for us, the first phase of which we completed with honor. Ucom will continue to actively participate
in the capital market, thereby also strengthening its position in Armenia”, said Hayk Yesayan, co- founder and director general at Ucom.
“I am pleased to announce that the issue of the first corporate bonds of Ucom has been success- fully completed. Many individuals and organiza- tions took part in the issue and we hope that this active involvement will continue on the Armenian stock exchange, where investors will be able to sell their bonds ahead of maturity date, and those investors, who did not have the chance to partici- pate in the issue process, will be able to purchase their bonds”, said Aram Kaifajyan, director general at Armenbrok investment company, which handled the bond placement.
Kosovo Telecom CEO is optimistic about reaching a solution with Z-Mobile over debt
Kosovo’s largest telecommunication company Kosovo Telecom is facing severe financial difficulties but the management will not allow the bankruptcy of the company to happen, media reported on July 17, citing the company’s CEO.
Kosovo Telecom has a huge debt of €25mn to local mobile operator Z-Mobile, but Kosovo Telecom officials said they will negotiate to find a solution.
After winning a court case, Z-Mobile initiated enforcement procedures, which envisages the closure of Kosovo Telecom's bank accounts if the debt is not paid.
that Z-Mobile was informed that the execution procedures have started, but under the current situation, the chances of the telco carrying
out a transaction of over €25mn are minimal, broadcaster RTK reported.
Istrefi asked for the payment to be made in installments of €300,000 per month, with the possibility of increasing the value, which was not accepted by Z-Mobile.
"We are in the negotiation phase with Z-Mobile and I believe that in the days to come we will have good news for Telecom," said Istrefi.
Kosovo Telecom CEO Bedri Istrefi announced
Kosovo Telecom and Z-Mobile have consistently