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Converse Bank, within prescribed period, has fully placed its nominal coupon bonds. Starting August 3, bonds for the total face value of AMD 1 billion were placed, the press service of the bank reports.

The face value of one placed bond is AMD 100.000, the maturity period is 24 months with semi-annual coupon payment frequency. The coupon yield rate is 10.5 percent per annum, and the effective rate is 10.78 percent.

This is the second placement of bonds by Converse Bank this year. Earlier, in May, the Bank successfully placed the first tranche of its USD bonds – 60 thousand coupon bonds for the total face value of USD 6 million.

The  successful placement of the bonds proves the great interest existing at the market towards the debt securities of the Bank.

The Bank, in response to formed demand, intends to continue issuance of both AMD and USD bonds, ensuring constant participation in the bond market.

Placement will be followed by listing of the bonds on NASDAQ OMX Armenia corporate bonds’ platform for trading at the secondary market.

Converse Bank CJSC’s shareholders are Advanced Global Investments LLC (80,94%), HayPost Trust Management B.V. Company (14.06%), and the Armenian Apostolic Church (5%).

The Bank provides whole range of banking services: lending, deposits, payment cards, investment and depositary services, online payments, etc.

As of 01.07.2017, the Bank’s assets amount to AMD 217,338,330 thousand, the liabilities - AMD 183,270,439 thousand, and the total capital - AMD 34,067,891 thousand.