ArmInfo. Converse Bank made the first payments on coupons of dram, dollar and euro bonds in the total amount of 325.202 million drams. As the press service of the Bank reports, of this amount, 142.5 million drams were paid on the coupon of AMD bonds, 127.355 million drams - on dollar coupon and 55.347 million drams - on euro bonds coupon.
According to the source, under the AMD issue (AMCOVSB25ER2) the issue volume is 3 billion drams, and the yield on the coupon is 9.5%, on the dollar (AMCOVSB26ER0) - $ 10 million and 5.25% respectively, on the EURO (AMCOVSB27ER8) - 5 million euro and 4% respectively. The circulation period of these issues is 36 months. The frequency of coupon payment is every six months. These three tranches were issued by the bank simultaneously in April of this year.
To note, as of October 27, 2018, 6 issues of Converse Bank bonds are listed on NASDAQ OMX Armenia: 3 dollar ones for $ 20 million, 2 AMD issues for 4 billion drams and 1 euro for 5 million euros. Of these, 2 dollar and 1 dram issues were issued in 2017 (in May, August and September), with listing in the same year (in May, September and December), and the three remaining tranches - dram, dollar and euro - were simultaneously issued in April 2018 with listing in September. The maturity of these six bond issues of Converse Bank is in 2019 and 2021.
According to the Financial Rating of Banks of Armenia prepared by IC ArmInfo, as of July 1, 2018, Converse Bank attracted from placement of its own bonds funds in the amount of 13.5 billion drams ($ 27.8 million) with ensuring y-o-y growth by 4.6-fold. By the amount of funds attracted from placing its own bonds, Converse Bank ranks 4th; by the quarterly growth of this indicator (2.3 -fold) it holds the 1st position, and by the y-o-y growth - the 2nd position.
To recall, Converse Bank has been operating in the Armenian market since September 1996. As of July 1, 2018, Advanced Global Investments LLc (led by Eduardo Ernekyan) - 80.94%, HayPost Trust Management B.V. - 14.06%, Ecumiadzin Cathedral - 5% are shareholders of the Bank.