ArmInfo. Converse Bank has started the primary placement of the next registered coupon dollar bonds in the amount of $10 million. This is noted in the Bank's message, which indicates that the placement of bonds of this issue will be carried out both through the Converse Mobile platform and through the bank's branch network.
According to the terms of the issue prospectus of this tranche AMCOVSB2MER2, a minimum of 5 bonds can be purchased.
The primary placement is scheduled to be completed by July 16, 2025. After this process is completed, the bonds will be listed on the Armenian Stock Exchange. Within the framework of this tranche, 100 thousand bonds were issued, each with a par value of $100. The coupon yield is set at 5%, the circulation period is 36 months. The frequency of coupon payments is envisaged once every six months. The maturity date of this tranche is April 16, 2028. The program prospectus for the issue of bonds issued by Converse Bank was approved by the Central Bank of Armenia on April 9, 2025. The final terms of this issue are available on the Converse Bank website under the link https://conversebank.am/hy/2025USD/.
According to the Financial Rating of Armenian Banks as of January 1, 2025, prepared by ArmInfo Investment Company, Converse Bank, being one of the leaders of the country's banking system in terms of bond issuance, attracted funds in the amount of 24.2 billion drams ($61 million) from the placement of its own bonds. In a two-year period, the bank increased this figure by 65%.
In addition to issuing its bonds, Converse Bank repeatedly acts as an underwriter of securities of companies wishing to place their own bonds in a short time. Literally the day before, on April 16, Converse Bank placed the debut dram bonds of the Vardanants Innovative Medical Center (Arinterlev CJSC) in the amount of 1 billion drams ahead of schedule in 10 days (instead of the initially envisaged three months). Before that, in 2024, dram bonds of the Euroterm company (Noyan and Menk brands) in the amount of 500 million drams were also placed ahead of schedule - one and a half months ahead of the scheduled deadline. This company is one of the largest Armenian producers and exporters of juices and nectars, jams and canned vegetables. However, Converse Bank's own bonds are also mainly placed ahead of schedule. This indicates investor confidence in issuers of securities and high demand in this case for Converse Bank's services, in particular, the underwriter offers those wishing to purchase bonds the opportunity to carry out transactions through the Converse Mobile platform.
