Converse Bank has commenced placing corporate AMD bonds.

The bank informed they will follow the placement with listing the bonds on NASDAQ OMX Armenia corporate bonds’ platform for trading on the secondary market.

The total value of the issue is AMD 1 billion. The face value of one bond makes AMD 100,000, while maturity period is 24 months with semi-annual coupon payment frequency.

The coupon rate is 10.5% per annum and the effective rate is 10.78%.

The minimum number of bonds for purchase is 15, which amounts to AMD 1,500,000.

“This is already the second placement this year. The first was made in USD. The bank, adhering to its policy of offering its customers a wider range of banking products, this time offers AMD bonds, which are attractive in financial market due to growing interest in them,” said Converse Bank Financial Director Grant Akopian, adding that the attracted funds would be used for lending to various sectors of economy.

According to Armenia’s Law on Guaranteeing of Remuneration of Bank Deposits of
Physical Entities, the funds attracted via nominal coupon bonds issued by the bank are considered a guaranteed banking deposit, and are guaranteed by the Deposit
Guarantee Fund of Armenia.

Capital Investments will perform as the registrar and the market maker for the issued bonds.