ArmInfo. Converse Bank sold dollar bonds with an issue volume of $10 million on the primary market in just a few days. This tranche was placed ahead of schedule - 6 days from the date of issue, instead of the planned three months, as noted in a message from Converse Bank.
The message especially pointed out that 65% of the bonds were placed through the Converse Mobile platform. The majority of investors who purchased these bonds were individuals - 95%. As part of this tranche, 100 thousand bonds were issued, each with a par value of $100. The coupon yield is set at 5%, with a circulation period of 36 months. Coupon payments are acheduled once every six months, with the maturity date set for April 16, 2028. After being listed on the Armenian Stock Exchange, these bonds will be available for trading on the secondary market.
Converse Bank's immediate plans include the placement of dram bonds. According to the Financial Rating of Armenian Banks as of January 1, 2025, prepared by ArmInfo Investment Company, Converse Bank, being one of the leaders of the country's banking system in bond issuance, raised 24.2 billion drams ($61 million) from the sale of its own bonds. Over a two-year period, the bank increased this amount by 65%.
