Converse Bank has commenced placement of bonds in three currencies
The first placement of Converse Bank’s bonds in 2018 started on April 26th. Along with AMD and USD bonds, Euro bonds have been issued as well.
The total volume of the issued AMD bonds is 3 billion AMD, with 9.5% coupon rate per annum. The total volume of the issued USD bonds is 10 million USD, with 5.25% coupon rate per annum. Lastly, the total volume of the issued Euro bonds is 5 million Euro, with 4% coupon rate per annum.
The maturity period of the bonds issued in all three currencies is 36 months instead of the previously noted 24 months maturity. The coupon payment frequency is semi-annual.
Placement of the bonds will be completed on September 1, 2018 and will be followed by listing of the bonds on the corporate bonds platform of the NASDAQ OMX Armenia OJSC stock exchange, for trading in the secondary market.
The bonds are guaranteed by the private individuals banking deposit guarantee fund.For details please follow the links:
– https://conversebank.am/en/amdbondsnewissue