{"id":109189,"date":"2017-08-03T14:34:20","date_gmt":"2017-08-03T14:34:20","guid":{"rendered":"https:\/\/armbanks.am\/2017\/08\/03\/246589\/"},"modified":"2024-12-15T13:30:25","modified_gmt":"2024-12-15T13:30:25","slug":"converse-bank-commences-placing-of-amd-bonds","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2017\/08\/03\/109189\/","title":{"rendered":"Converse bank commences placing of AMD bonds"},"content":{"rendered":"<p><strong>YEREVAN, August 3. \/ARKA\/.<\/strong> The Yerevan-based Converse Bank said today it started placing corporate AMD bonds issued by it. It said the placement will be followed by listing of the bonds at NASDAQ OMX Armenia corporate bonds\u2019 platform for trading on the secondary market.<\/p>\n<p>The total value of the issue is AMD 1 billion. The face value of one bond is AMD 100,000, the maturity period is 24 months with semi-annual coupon payment frequency. The coupon rate is 10.5% per annum, and the effective rate is 10.78 %.<\/p>\n<p>The minimum number of bonds to be purchased is 15, which is AMD 1,500,000 in monetary terms.<br \/>\n\u201cThis is already the second placement this year. The first was made in USD. The Bank, adhering to its policy of offering its customers a wider range of banking products, this time offers AMD bonds, which are attractive in financial market due to growing interest in them\u201d, &#8211; said Grant Akopian, Financial Director of Converse Bank, adding that the attracted funds would be used for lending to various sectors of economy.<\/p>\n<p>According to Armenia\u2019s Law on \u201cGuaranteeing of Remuneration Of Bank Deposits Of Physical Entities,\u201d the funds attracted via nominal coupon bonds issued by the Bank are considered as guaranteed banking deposit, and are guaranteed by the Deposit Insurance Fund of Armenia.<\/p>\n<p>Capital Investments CJSC will be the registrar and the market maker for the issued bonds. Converse Bank CJSC\u2019s shareholders are \u201cAdvanced Global Investments\u201d LLC (80,94%), HayPost Trust Management B.V. Company (14.06%), the final beneficiary of which is Eduardo Eurnekian, Argentine businessman of Armenian origin, and the Armenian Apostolic Church (5%).<\/p>\n<p>The Bank provides the whole range of banking services: lending, deposits, payment cards, investment and depositary services, remote services, online payments, etc. As of 01.07.2017, the Bank\u2019s assets stood at o AMD 217,338,330 thousand, the liabilities \u2013 at AMD 183,270,439 thousand, and the total capital \u2013 at AMD 34,067,891 thousand. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Yerevan-based Converse Bank said today it started placing corporate AMD bonds issued by it. It said the placement will be followed by listing of the bonds at NASDAQ OMX Armenia corporate bonds\u2019 platform for trading on the secondary market<\/p>\n","protected":false},"author":1,"featured_media":178206,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12147,9216],"tags":[15837,12187,12491],"class_list":{"0":"post-109189","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bonds-am-en-en","8":"category-news","9":"tag-armenia-2","10":"tag-bonds","11":"tag-converse-bank"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/109189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=109189"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/109189\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/178206"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=109189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=109189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=109189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}