Thursday, October 19 2017 18:40
Karine Melikyan

Converse Bank placement of the second tranche of dollar bonds in the amount of $ 4 million completes the issue of the first issue with a total volume of $ 10 million

Converse Bank placement of the second tranche of dollar bonds in the amount of $ 4 million completes the issue of the first issue with a total volume of $ 10 million

ArmInfo. Converse Bank, by placing the second tranche of USD coupon bonds in the amount of $ 4 million, completes the issue of the first issue with a total volume of $ 10 million. As the press service of the Bank told ArmInfo, the initial placement of the second tranche of USD bonds started on October 19. On the first tranche of the USD issue, the primary placement started on May 5 this year and ended on May 16, and on May 26, the entry into the listing list was held.

Bonds of the second tranche of the USD issue also have a circulation period of 2 years, a face value of $ 100, and once per half-year, coupon payments are provided. The annual yield on the coupon in the second tranche is 5.25%, while in the 1st tranche it was 5.75%.

"This time, as in the previous one, there was a high interest in the market for Converse Bank's bonds. We continue to expand the range of investment products for clients in the framework of the envisaged development strategy, and the Bank's bonds, as an alternative to deposits, take precedence in this list," said the financial director of Converse Bank Hrant Hakobyan.

After completion of the initial placement, the second tranche of USD bonds will be listed on the exchange and will be quoted on the corporate bond market. Previous issues of Converse Bank's bonds are already listed on the main list of the Abond stock exchange NASDAQ OMX Armenia.

On the secondary market as of October 16 this year the yield of convertible USD bonds of Converse Bank amounted to 5.63% with buy-backs and 5.33% on sale, while AMD corresponded to 10.5% and 9.95% respectively. "This indicates a high demand for these bonds and confidence in the Bank," G. Hakobyan concluded, adding that the bonds are guaranteed by the Fund for Guaranteeing the Refund of Individual Deposits in proportion to the amounts of guaranteed deposits.

As of October 19 2017 on the NASDAQ OMX Armenia stock exchange, the first tranche of the $ 6 million USD issue of Converse Bank issued on May 5 this year is listed and the past listing on May 26 in the same, as well as the AMD 1 billion issue, issued on August 3 2017 and passed the listing on September 15. The yield on the USD bonds of the Bank was 5.75%, and on AMD - 10.5%. In both cases, the circulation period is set at 2 years, and coupon payments are provided once in six months. 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 (hands-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. As of October 1, 2017 Converse Bank assets totaled 233.4 billion AMD, liabilities - 198.7 billion AMD, and total capital - 34.8 billion AMD.

In total, 23 issues of USD bonds of 10 issuers are quoted at the NASDAQ OMX Armenia as of October 19, 2017, of which 19 issues are issued by 7 banks: Araratbank (5), Ameriabank (4), Armswissbank (4), Anelik Bank (3), one USD tranche from Armbusinessbank, Converse Bank and Unibank. In addition, 2 EUR tranches are listed on the exchange - one each from Ameriabank and Armswissbank.

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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