Converse Bank starts the subsequent placement of bonds on October 17 and plans to allocate 5 million bonds denominated in US dollars and 1 billion bonds denominated in Armenian drams.
The par value of US dollar bonds is 100, annual yield 5.25%, and the par value of Armenian dram bonds is AMD 100,000, annual yield 9.50%.
The term of maturity is 36 months, the frequency of coupon payment is semiannual.
The goal of this placement is to offer bank’s customers the option of acquiring bonds in both, primary and secondary markets.
The end of the placement is scheduled on February 28, 2020.
This is Converse Bank’s second bond issuance during this year. During the second quarter of this year, the bank had already issued 1 billion drams and 10 million dollars bonds.
Please follow the link for more detailed information https://conversebank.am/en/2019issue/ .