YEREVAN, September 13, /ARKA/ On September 12 the AMX opening bell rang for Converse Bank’s bonds listed (AMCOVSB28ER6 and AMCOVSB29ER4) on the Abond list of the securities exchange. The bank said the total volume of AMD-denominated bonds was 1 billion AMD that was issued with 9.75% coupon yield and 36 month-maturity period.
The bank will make payments semiannually. USD-denominated bonds were issued with USD10 million total volume, 3-year maturity period and 5.5% coupon yield. The bank will make payments of coupons once a semester. “Last few years Converse Bank issued and allocated over 22 billion AMD corporate bonds in three denominations, that have so far captured interest from both institutional and individual clients. In this respect, Converse Bank is one of the leaders and in future the bank will continue making new allocations,” said Artur Hakobyan, CEO, Chairman of Executive Management, Converse Bank.
Currently, these tranches are the 3rd ongoing USD-denominated and 2nd AMD-denominated bond listings. Welcoming Converse Bank’s effective cooperation with AMX Armenia Securities Exchange, Hayk Yeganyan, CEO, Armenia Securities Exchange, said, “The active involvement of Converse Bank and other partners show that raising capital with debt instruments benefits the private sector. Corporate bonds help our partners expand their activities, and as a result, everyone wins – individuals, institutional investors and issuers, as compared with bank deposits and loans.”
Compared to the same period of last year there is an increase of 20% in the number of listed/admitted corporate bonds. The number of trades has surged by 18% and the volume of trades by 36%, reaching 33 million dollars from previous year’s 24 million dollars. Converse Bank is a member of Armenia Securities Exchange since 2008. The bank is also a regulated market settlement system member, depository system account operator and pension system account operator.
Armenia Securities Exchange provides a completely automated electronic trading platform and beneficial conditions for trade. Since June, 2009 Armenia Securities Exchange operates Central Depository of Armenia. About Converse Bank Converse Bank CJSC is a 26-year-old dynamically growing bank, which offers various services for individual and legal entities. The stable development of
the Bank is due to transparent operation and reasonable policies of financial management. -0-
