Yesterday Converse Bank completed the placement of the first tranche of dollar bonds.

The bank stated that the process began on May 5.

60 000 coupon bonds were placed, with the total nominal value of USD 6 million. The nominal value of one bond is USD 100, circulation term - 24 months, and frequency of coupon payment is semi-annual. The annual coupon yield of the bonds is 5,75%.

86,67% of the bond investors are private individuals, and 13,33% - legal entities.

“The placement was made in line with Converse Bank’s strategy. The main investors in bonds, just as we had intended, were private individual clients of Converse Bank. It is also noteworthy that the demand exceeded the volume offered by the first tranche,” said Converse Bank Executive Director Artur Hakobyan.

The bank noted that the bonds are guaranteed by the Guarantee Fund for Banking Deposits of Private Individuals, for the volume of deposits.

Brokerage for maintenance of the register of the issued bonds will be provided by Capital Investments, which will also implement the functions of market maker.