Conversebank begins placement of second issue of USD-denominated bonds

20.10.2017 12:09
Conversebank begins placement of second issue of USD-denominated bonds

YEREVAN, October 20. /ARKA/. Conversebank said today it began the placement of the second issue of USD-denominated bonds in the amount of $4 million. The total amount of USD-denominated bonds is $10 million. The second tranche of $4 million bonds will be placed with a circulation period of 24 months and interest rate of 5.25%. The cost of a bond is $100. Payments on the coupon will be made once every six months. The placement of the first issue totaling $6 million took place in May this year.

After placement, the bonds will be listed at NASDAQ OMX Armenia in the corporate bonds section.
On October 16 in the secondary security market USD–denominated bonds were bought and sold at 5.63% and 5.33% respectively, while dram-denominated bonds at 10.5% and 9.95% respectively. According to Conversebank financial director Hrant Hakobyan, this indicates a high demand for bonds and confidence in the bank.

Conversebank is owned by Argentina-based Advanced Global Investments LLC (80.94%), the Armenian Apostolic Church (5%) and the HayPost Trust Management B.V. Company (14.06%),


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