YEREVAN, September 24, /ARKA/. Armenian Converse Bank said on September 16 it began paying interests on mid-term nominal coupon bonds. A press release by the bank said a total of 8.046 million Drams were paid to one corporate and 25 individual clients on the first day. The payment for each coupon is 804.6 Drams.
The press release said also the first placement of nominal mid-term bonds began in 2008 December. The nominal amount of placed bonds is 300 million Drams with a three-year maturity period. The annual yield is 10.64%. The interest is paid once a quarter.
The bank has so far issued 50,000 bonds worth 1.5 billion Drams. The face value of a bond is 30,000 Drams. The placement of other bonds will be implemented in several stages, it said.
Ninety-five percent in Converse Bank is owned by an Argentinean – Armenian businessman Eduardo Eurnekian, 5% is owned by Armenian Apostolic Church. The bank has 25 branches in 13 towns and a 554-member staff. ($1- 362.76 Drams). -0-
