Converse Bank has successfully completed allocation of another tranche of corporate bonds.

According to the bank, the bonds in 3 currencies have been allocated within the frames of the process that started on April 26 of 2018.

“This year Converse Bank issued bonds not only in US dollars and Armenian drams, as last year, but also in euros with 36-month tenure instead of the previous 24-month tenure,” Converse Bank Financial Director Grant Akopian said.

The volume of Armenian dram bonds is 3 billion, with a 9.5% annual coupon yield.

The US dollar issuance volume is USD 10 million, with a 5.25% coupon, while the issuance in euros amounts EUR 5 million at 4% coupon yield.

The coupon payment frequency in all currencies is semi-annual.

On September 5 of 2018, the bonds will be listed on NASDAQ OMX Armenia stock exchange and could be traded on the secondary market.

The bonds are guaranteed by the Deposit Guarantee Fund of Republic of Armenia.