Converse Bank starts placement of bonds worth 3 billion drams

ArmInfo.  Converse Bank has started the initial placement of  dram bonds in the amount of 3 billion drams. As noted in the message of Converse Bank, the initial placement of this tranche, which started on May 26, is planned to be  completed on August 26.  Within the framework of the AMD tranche  (AMCOVSB2NER0), 60,000 bonds will be issued, each with a nominal   value of 50,000 drams, the annual coupon yield is set at 10.25%, the  maturity of the bonds of this issue is 24 months, coupon payments are  provided once every six months.

The  bonds will be placed through the Converse Mobile platform and  through the Bank's branch network.  According to the terms of the  prospectus of this tranche AMCOVSB2NER0, a minimum of 5 bonds can be  purchased. After being listing on the Armenian Stock Exchange, the  bonds from this issue will be  traded on the secondary market.  Converse Bank's message mentions that this is the Bank's next  bond  placement in 2025. Shortly before this, Converse Bank managed to  place dollar bonds in the amount of $10 million ahead of schedule in  a matter of days. At the end of 2024, it also issued dollar and dram  bonds in the amount of $5 million and 5 billion drams, respectively,  ahead of schedule. The demand for the bank's corporate bonds  demonstrates their competitiveness and the interest in alternative  investment opportunities.