Tuesday, May 7 2019 18:03

ArmInfo.. Converse Bank fully repaid the tranche of coupon dollar bonds in the amount of $ 6 million issued on May 5, 2017. According to the press service of the  bank, 87% of the bonds were purchased by individuals. During the  circulation of bonds of this issue at the stock exchange 99 deals  were made on them with a total amount of $ 2.1 million.

"The bank consistently launches new tranches of bonds to the market,  providing customers with the opportunity to use this instrument for a  long time. Thus, on April 15 of this year, Converse Bank began the  initial placement of two tranches of dollar and dram bonds of $ 10  mln with a circulation period of 3 years.  The yield on the coupon of  AMD bonds of this issue is 9.75%, and dollar yield - 5.5%, "the  source informs.  Prospectuses for issuing bonds of this issue are  posted on the bank's website under the link:   https://conversebank.am/hy/2019issue/

According to the latest data, 5 issues of Converse Bank bonds are  listed on the Armenian stock exchange AMX. These are 2 dollar  tranches in the total amount of $ 14 million, 2 dram tranches in the  total amount of 4 billion drams, and one euro in the amount of 5  million euros. All of these issues are listed on the main Abond list.  Coupon payments for these issues are made every six months. The yield  of dollar-denominated issues since the first tranche (from May 5,  2017) to the current placement (April 2019) decreased from 5.75% to  5.5%, and dram ones - from 10.5% in August 2017 to the current 9.75%.  From the already quoted issues of Converse Bank's bonds in 2019, 2  will be redeemed: $ 4 million dollars - on October 16 (yield 5.25%),  and one AMD amounting to 1 billion drams - on August 3 (yield 10.5%).  The redemption of the remaining three issues (dram, dollar and euro)  will take place in 2021 - April 26.  According to the data of the  Financial Rating of Banks of Armenia as of January 1, 2019 prepared  by the ArmInfo IC, Converse Bank attracted funds in the amount of  16.7 billion drams ($ 34.4 million) from the placement of its own  bonds, ensuring a y-o-y 2.8-fold growth. In terms of the amount of  attracted funds from the placement of its own bonds, Converse Bank  occupies the 4th position, in terms of the annual growth of this  indicator - the 1st position. Assets of Converse Bank as of this date  amounted to 281.1 billion drams, liabilities -242.03 billion drams,  total capital - 39.1 billion drams. The year 2018 Converse Bank  completed with a net profit of 4.9 billion drams, exceeding the level  of a year ago by 37.7%.  To note, Converse Bank has been operating in  the Armenian market since September 1996. As of January 1, 2019, the  Bank's shareholders are Advanced Global Investments LLC (led by  Eduardo Eurnekian) - 80.94%, HayPost Trust Management B.V. - 14.06%,  Echmiadzin Cathedral - 5%.