Converse Bank has completed the distribution of bonds
SOCIETY
Converse Bank has prematurely completed the placement of his bonds with total amount of 3 billion AMD and 10 milion USD.The bonds will soon be listed on the AMX-Armenia stock Exchange, after which they will be put into circulation on the secondary market.
The coupon rate of the bonds in AMD and USD is 10.5% and 3.75% respectively. The coupon payment frequency is semi-annual.
Regarding to the activities on the bond market, Converse Bank notes that since 2008 the Bank has issued bonds in three currencies – AMD, USD and Euros in total volume of 41.6 billion AMD. Currently,four transhes of bonds issued by the Bank with total volume of 5 billion AMD and 10 million USD are circulating on the stock exchange.
The investments in bonds are equalised to deposits and are insured by the Deposit Guarantee Fund,the revenues from bondsare also tax-fee and are considered one of the best ways to diversify savings. The Bank added that new bonds will be issued in the near future, retaining its place among the leaders of the banking system in Armenia.
For full information on the issuance and distribution, the programme prospectus and the final terms and conditions visit https://conversebank.am/en/2022issue/
Converse Bank is overseen by Central Bank of Armenia.
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