Converse Bank has announced the commencement of its first tranche of currency bonds for 2024. Starting from April 17th, the bank will issue currency bonds worth 5 billion Armenian drams and USD bonds worth 10 million USD. The bonds will offer an annual yield of 10.25% for the dram bonds and 4.75% for the dollar bonds, with semi-annual interest payments. The maturity period for the dram bonds is April 17, 2026, and for the dollar bonds, it is April 17, 2027.

The bank has been successful in attracting customers through its bond issuances, especially its corporate bonds which are in high demand from both institutional investors and individual clients. This can be attributed to the convenience of investing through the Converse Mobile application. The bank places great importance on using digital technologies in the bond issuance process. To date, the total value of bonds issued is approximately 41.6 billion AMD, with 19.6 billion AMD currently being traded on the Armenian Stock Exchange,” said Gregori Zakaryan, the Head of Investment Banking at Converse Bank.

For more information on the issuance and distribution, including the terms of the Program and the Final Terms of the Offering, please refer to this link.

The currency securities listed on the Armenian Stock Exchange are guaranteed by the Insurance Fund of Deposits, which is established by the DIF.

Once the distribution is complete, the bonds will be listed on the Secondary Market of the Armenian Stock Exchange for trading.

For further information, please contact: 010-511-211.

Converse Bank is supervised by the Central Bank of the Republic of Armenia.

Source: News from Armenia – NEWS.am