Friday, May 5 2017 16:26
Alina Hovhannisyan

Converse Bank started issuing corporate AMD and USD bonds

Converse Bank started issuing corporate AMD and USD bonds

ArmInfo. 5 May 2017 - Converse Bank CJSC announces today its first tranche of corporate bonds issuance. The bonds will be listed on NADAQ OMX Armenia OJSC stock exchange and will be traded on the secondary market.

According to the source, The total value of the issue will include AMD 1 billion and USD 10 million. The total value of the first tranche is USD 6 million. The face value of each bond is USD 100, the maturity period is 24 months with semiannual coupon payment frequency.  The coupon rate is 5.75% per annum.

?With this issuance, Converse Bank will diversify its liabilities portfolio and will direct the attracted funds to the financing of different investment project in different sectors of the economy, commented Arthur Hakobyan, Converse Banks CEO. Bonds are a wildly used investment instruments and have an essential advantage compared to traditional time deposits.  They can be sold at any point in whole or in part, without losing the accrued interests, explained Grant Akopian, Converse Bank?s CFO.

Bonds are guaranteed by the Deposit Guarantee Fund to the amount of guaranteed deposits. Capital Investments CJSC will be the registrar and the market maker for the bonds. Converse Bank CJSC is a company part of the Group owned by the Argentinian- Armenian businessman Eduardo Eurnekian, and offers the whole range of banking services, among others, lending, deposits, debit and credit cards, investment and custodian services, remote banking and online payments. Its shareholders of the Bank are Advanced Global Investments LLC (80.94%), Haypost Trust Management B.V.  (14.06%) and the Armenian Apostolic Church (5%). As of 31.03.2017, banks assets made up AMD 203,281,106 thousand, the liabilities AMD 170,223,811 thousand and the total capital made up AMD 33,057,295 thousand.

To note, Converse Bank has been operating in the Armenian market since September 1996. As of January 1, 2017, the Bank's shareholders  are Advanced Global Investments LLc (Eduardo Ernekian) - 80.94%, HayPost Trust Management B.V. - 14.06%, the Cathedral of the Mother See of Etchmiadzin - 5%, and the indirect holder of 100% of shares is Holding Company "Blakery Assets" LTD.

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Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000