Converse Bank has completed the distribution of corporate issued bonds. Nominal coupon bonds have been fully distributed within the defined terms.

According to the report of the bank, as a result of the process starting from August 3, a bond with a total nominal value of 1 billion drams was distributed. The nominal value of one bond is AMD 100,000, the circulation term is 24 months, coupon payment periodicity is semi-annual. The yield of coupon bonds is 10.5% annually and the effective interest rate is 10.78%.

This is the second issue of the bonds by Converse Bank this year. Earlier, in May, the bank had successfully deployed the first tranche of dollar bonds - 60,000 coupon bonds with a nominal value of $ 6 million.

The bond allocation process, according to the report, indicates the great interest in the market towards debt securities. Responding to the formed demand, the Bank intends to continue both issuance of drams and dollar bonds, ensuring constant participation in the bond market.

The placement will be followed by the listing of bonds at the NASDAQ OMX Armenia corporate bond market to provide a secondary market for securities.

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