Tuesday, November 28 2017 13:36
Alina Hovhannisyan

Converse Bank completed placement of the second tranche of dollar bonds ahead of schedule, amounting  $ 4 million.

Converse Bank completed placement of the second tranche of dollar bonds ahead of schedule, amounting  $ 4 million.

ArmInfo. Converse Bank completed the placement of the second tranche of dollar coupon bonds in the amount of $ 4 million before the scheduled date on November 27, thereby summarizing the issue of the first issue with a total volume of $ 10 million. As ArmInfo was told in the press service of the Bank, the initial placement of the second tranche of dollar bonds started on October 19 . On the first tranche of the dollar 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 tranches  of the dollar issue also have a circulation period in 2 years, a face value of $ 100, and once in half a year coupon payments are provided. The annual coupon yield in within the second tranche is 5.25%, while within the 1 st tranche it was 5.75%.

In the near future, the second tranche of Converse Bank's dollar bonds will be listed on NASDAQ OMX Armenia and will be quoted on the main list of Abond, as well as the previous issues of the Bank's bonds.

"In the current year this is the second successful placement, as a result of which in the corporate bond market the total volume of debt  of Converse Bank's liabilities amounted to $ 10 million and 1 billion drams. In 2018, the Bank plans to issue new bonds whose circulation period will be longer, given the focus of these securities on foreign investors, "said Converse Bank CFO Hrant Hakobyan, stressing that by the above placement the Bank has consolidated its clear position in the list of leading issuers of corporate bonds, he said that as of November 24 this year, the quotation of purchase / sale of dollar bonds of the 1st tranche of Converse Bank (exchange code COVSB2) was at the rate of 5.31% / 5%, which indicated their growth of the cost and therefore of the receipt of additional income by the Bank's clients. "This indicates a high demand for these bonds and trust in the Bank," G. Hakobyan concluded, adding that the bonds are guaranteed by the Guarantee Fund for Individuals' Income Reduction commensurate with the volume of guaranteed deposits.

Recall that as of November 28 this year. on the NASDAQ OMX Armenia stock exchange, the first tranche of the $ 6 million dollar 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 dram issue, issued on August 3 this year. and passed the listing on September 15. The yield on the dollar bonds of the Bank was 5.75%, and on drams - 10.5%. In both cases, the circulation period is set at 2 years, and coupon payments are provided once every 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, 2017g. Converse Bank assets totaled 233.4 billion drams, liabilities - 198.7 billion drams, and the total capital - 34.8 billion drams.

It should be noted that in total, 24 issues of dollar bonds of 11 issuers are quoted at NASDAQ OMX Armenia as of November 28, 2017, out of which 20 issues were issued by 8 banks: Araratbank (5), Ameriabank (4), Armswissbank (4 ), Anelik Bank (3), one dollar tranche from Armbusinessbank, Converse Bank and Unibank. In addition, 2 euro 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