Converse Bank will launch the next round of coupon bonds placement totaling 3 billion AMD and 10 million USD on November 22.

The bank said the coupon yield of the bond is 10.5% and 3.75% respectively with semi-annual coupon payment frequency.

The bonds will be available to purchase both, at the bank’s branches and via mobile application, where the user is able to go through the entire bond purchase process in a matter of minutes. Full information regarding the issuance will also be available on the app.

To purchase bonds via the mobile application, it is necessary to launch the app and on the home page click on the ‘+’ sign to launch the applications page, then select ‘invest’ and follow the instructions.

The bank notes that after the completion of the placement, the bonds will be listed on the Armenian Stock Exchange for further trading in the secondary market. As of now, 5 billion AMD and 20 million USD worth of bonds have been listed on the Armenian Stock Exchange.

“Investments in bonds unlike deposits are exempt from taxes. The bonds can be sold on the secondary market before their redemption period. Any funds associated with the bonds are guaranteed by the Deposit Guarantee Fund,” the bank said in the news release.

Further details about the issuance, current placement and program prospectus, as well as full terms and conditions can be found here.

Converse Bank is overseen by Central Bank of Armenia.