Yerevan /Mediamax/. First tranche of “Converse Bank” bonds at the sum of 300mln AMD is fully placed.

Mediamax reports that the Deputy Director of “Converse Bank”, Head of the Financial Markets Department Tigran Davtyan said this today.

The first tranche of the bank’s bonds was purchased by 29 investors, among them both individuals and legal entities. The placement, which was initiated on December 16, was fully completed in 10 days, while 30 days were meant for that.

“The bank plans to realize the placement of the remaining part of the issue at the sum of 1.2bln AMD in 2009”, Tigran Davtyan stated.

“Converse Bank” announced the issue of medium-term coupon bonds and placement of the first tranche on December 11, 2008. The total volume of the issue makes 1.5bln AMD, the quantity of bonds - 50 thousand, nominal value of each bond – 30 thousand AMD, repayment term – 3 years, annual yield – 10.64%.

The coupon yield will be paid quarterly.

The whole issue of the bank will circulate in the Armenian Stock Exchange; “Capital Asset Management” Company is the underwriter of the issue.