Converse Bank informs that the bonds will be listed on NASDAQ OMX Armenia OJSC stock exchange and will be traded on the secondary market.

The total value of the issue will include AMD 1 billion and USD 10 million. The total value of the first tranche is USD 6 million. The face value of each bond is USD 100, the maturity period is 24 months with semiannual coupon payment frequency. The coupon rate is 5.75% per annum.

“With this issuance, Converse Bank will diversify its liabilities portfolio and direct the attracted funds to the financing of different investment project in different sectors of the economy,” commented Arthur Hakobyan, Converse Bank’s CEO.

“Bonds are a widely used investment instruments and have an essential advantage compared to traditional time deposits. They can be sold at any point in whole or in part, without losing the accrued interests,” explained Grant Akopian, Converse Bank’s CFO.

Bonds are guaranteed by the Deposit Guarantee Fund to the amount of guaranteed deposits.

Capital Investments CJSC will be the registrar and the market maker for the bonds.