YEREVAN, September 4. /ARKA/. The Yerevan-based Converse Bank said it has successfully completed another placement of bonds denominated in three currencies- Armenian drams, US dollars and euros.
‘The duration of bonds in all currencies is 36 months, up from previous issues which had 24 month duration,’ financial director of Converse Bank Hrant Hakobyan said in a press release.
The total volume of the issue of bond sin drams is 3 billion. The annual coupon yield is 9.5%. The total volume of the issue of US dollar bonds is $10 million with an annual coupon yield of 5.25% and the total volume of the issue of bonds in euros is 5 million euros with an annual coupon yield of 4%. Periodicity of coupon payment is every six months.
On September 5, 2018 the bonds passed the listing procedure at the corporate bonds market of the Nasdaq OMX Armenia stock exchange for turnover on the secondary market. The bonds are guaranteed by the Armenia’s Deposit Insurance Fund.
Converse Bank’s shareholders are Advanced Global Investments LLC (80.94%), Haypost Trust Management B.V. (14.06%) and the Armenian Apostolic Church (5%). -0- ($ 1 – 483.38 drams). –0–
