Converse Bank completes tranches of dollar and dram bonds ahead of schedule

ArmInfo. Converse Bank has  placed the next tranches of dollar and dram bonds ahead of schedule,  totaling $5 million and 5 billion drams. This is noted in the Bank's  statement, which explains that the initial placement of these bonds,  initiated on November 1, was completed two months ahead of the  originally scheduled deadline (February 3, 2025).

The statement specifically notes that over 80% of applications for  the purchase of these bonds were submitted by individuals through the  Converse Mobile platform. Within the framework of the dram tranche  (AMCOVSB2KER6), the annual coupon yield is set at 9.75%, and the  dollar tranche (AMCOVSB2LER4) is set at 4.5%. In both cases, coupon  payments are made once every six months. The dram issue contains  100,000 bonds, each worth AMD 50,000 thousand, and the dollar issue  contains 50,000 bonds, each worth $100. The maturity date for the  dram bonds is November 1, 2026, and for the dollar bonds is November  1, 2027. In the near future, these bonds will be listed on the  Armenian Stock Exchange.