Thursday, May 10 2018 12:37

ArmInfo.The first placement of Converse Bank's bonds in 2018 started on April 26th.  Along with AMD and USD bonds, Euro bonds have been issued as well.

The total volume of the issued AMD bonds is 3 billion AMD, with 9.5%  coupon rate per annum. The total volume of the issued USD bonds is 10  million USD, with 5.25% coupon rate per annum. Lastly, the total  volume of the issued Euro bonds is 5 million Euro, with 4% coupon  rate per annum.

The maturity period of the bonds issued in all three currencies is 36  months instead of the previously noted 24 months maturity. The coupon  payment frequency is semi- annual. 

Placement of the bonds will be completed on September 1, 2018 and  will be followed by listing of the bonds on the corporate bonds  platform of the NASDAQ OMX Armenia OJSC stock exchange, for trading  in the secondary market.

The bonds are guaranteed by the private individuals banking deposit  guarantee fund.

For details please follow the links:   https://conversebank.am/en/amdbondsnewissue/,  https://conversebank.am/en/usdbondsnewissue/,  https://conversebank.am/en/eurbondsnewissue/.

To recall, as of May 10 this year. on NASDAQ OMX Armenia, two  tranches of Converse Bank's dollar bonds in the amount of $ 6 million  and $ 4 million issued and issued in May, August and October 2017 and  AMD 1 billion in AMD. The yield on the dollar bonds of the Bank was  5.75% and 5.25%, and on dram bonds - 10.5%. In three cases, the  circulation period is set at 2 years, and coupon payments are  provided once every six months. Converse Bank has been operating in  the Armenian market since September 1996. As of January 1, 2017, the  Bank's shareholders are Advanced Global Investments LLc  (hands-Eduardo Ernekian) - 80.94%, HayPost Trust Management B.V. -  14.06%, the Cathedral of the Mother See of Etchmiadzin - 5%, and the  indirect holder of 100% of shares is Holding Company "Blakery Assets"  LTD.  As of April 1, 2018. Converse Bank assets totaled 251.5 billion  AMD, liabilities - 215.1 billion drams, and total capital - 36.5  billion AMD.