Converse Bank has completed placement of the issued corporate AMD bonds.  

According to the bank, nominal coupon bonds have been fully placed within prescribed period.

Starting from August 3, bonds for the total face value of AMD 1 billion were placed. 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% per annum, and the effective rate is 10.78%.

“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. In response to formed demand, the bank intends to continue issuance of both AMD and USD bonds, ensuring constant participation in the bond market,” the statement reads.

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