Converse Bank has started the placement of nominal coupon bonds totaling 2 billion AMD and 10,000,000 USD. The coupon yield of the bond is 10% and 4% respectively, the coupon payment frequency is semi-annual.

Further details about the issuance and the placement of the program prospectus, as well as full terms and conditions can be found following this link.

Once placed, the bonds will be listed on the Armenian Stock Exchange for turning over in the secondary market.

Investments in bonds unlike in deposits are exempt from taxes. The bonds can be sold on the secondary market before their maturity. Any funds associated with the bonds are guaranteed by the Deposit Guarantee Fund.

It is noted that the bank has recently repaid the bonds in AMD with AMCOVSB28ER6 and in USD with AMCOVSB29ER4 ISINs. In general, 1 billion AMD and 10 million USD worth of bonds were repaid, the coupon payment amounted to 178.5 million AMD.

“Converse Bank is one of the market leaders with its number and volumes of bonds issued. As of now, 4 billion AMD and 15,000,000 USD worth of bonds have been quoted on the Stock Exchange of Armenia,” the news release says.

Converse Bank is overseen by Central Bank of Armenia.