Converse bank completes placement of second issue of USD-denominated bonds

28.11.2017 20:02
Converse bank completes placement of second issue of USD-denominated bonds

YEREVAN, November 28. /ARKA/. The Yerevan-based Converse Bank said today it has completed the placement of the second issue of USD-denominated bonds in the amount of $4 million. The face value of a bond is $100, the circulation period is 24 months and the interest rate is 5.25% Coupon payments are made once in every six months.

It said also the placement was completed ahead of the schedule. Now the total amount of USD-denominated bonds is $10 million and the amount of bonds in the national currency is one billion drams. The bank said also it plans to issue new bonds next year with longer circulation term. The latest bonds will be listed on ABond platform of corporate bonds at NASDAQ OMX Armenia stock exchange.

Converse Bank's major shareholder is the Advanced Global Investments LLC (Argentina), which holds 80.94% of its shares. The Armenian Apostolic Church owns a 5% stake and the HayPost Trust Management B.V. Company (Armenian national postal operator) owns 14.06%. -0-


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