Converse Bank acts as underwriter for corporate AMD coupon bonds of  Euroterm company

ArmInfo.Converse Bank is the underwriter for corporate dram coupon bonds of the Euroterm company  in the amount of AMD 500mln, the public primary placement of which began on November 28. This is noted in the Bank's message, which states that the coupon yield is set at 12.5%, the maturity period is 36 months, and the frequency of coupon payments is provided once every six months. The bonds of this issue mature on November 28, 2026.

Upon completion of the placement, which is scheduled for February 28,  2024, the bonds of this issue will be listed on the Armenian Stock  Exchange, after which they will be quoted on the secondary market.

According to the message, to ensure access to this product for a  larger number of people who want to purchase it, a limit has been set  - a minimum of 10 bonds can be purchased at a nominal value of 10,000  drams each.  Moreover, you can also purchase bonds in the Converse  Mobile application by entering "+" then "Make investments" and then  following the commands. More details on the terms of this bond issue  can be found on the bank's website at the link:  https://conversebank.am/en/CorpBonds/

Head of the Investment Department of Converse Bank Grigory Zakaryan  noted: "We are pleased to announce a new service in the Bank B2B and  B2C. By placing corporate bonds, we will provide investors with the  opportunity to diversify their investments by taking advantage of the  new service, and issuing companies will be able to raise funds as a  result of the placement, and thus to become more public and  recognizable.

I will also emphasize the importance of this process in terms of  intensifying exchange trading and the formation of the capital  market, taking into account the small number of issues by companies  in the real sector. The presence of issuers operating in various  sectors of the economy is extremely important for the financial  market of Armenia, and therefore we will actively work in this  direction." Executive Director of Euroterm CJSC Vahe Zakaryan noted  that the issue of bonds will increase the company's recognition and  trust in the financial markets, contribute to the expansion of  production and diversification of the capital structure with the  attraction of new investments. "On the other hand, this is a great  opportunity to increase customer loyalty to the company and our  products," he added.

The report notes that Converse Bank, being one of the leaders in the  country's banking system in issuing bonds, has issued dram and  foreign currency bonds since 2017 with a total volume equivalent to  almost 41.6 billion drams. At the moment, the bank's dram and foreign  currency bonds are traded on the Armenian Stock Exchange with a total  volume equivalent to about AMD 19.7bln.

According to the Financial Rating of Armenian Banks as of September  30, 2023, prepared by the ArmInfo Information Company, Converse Bank  increased the volume of funds raised from the placement of its own  bonds over the reporting 9 months by 39% (with a market growth of  8.6%) - up to 20.4 billion drams By October 1, 2023, Converse Bank's  assets amounted to 489.4 billion drams, and liabilities - 417.5  billion drams. (The calculated dram exchange rate as of September 30,  2023 was 393.40 AMD/$1).

The Euroterm JSC was founded in 1998 and is represented on the market  under the brands Noyan and Menk. The Euroterm company is one of the  largest Armenian producers and exporters of juices and nectars, jams  and canned vegetables. Euroterm products are mainly exported to  Russia, the USA and some European countries.