Converse Bank announces coupon payment on its exchange traded bonds

Converse Bank declared a coupon payment on its 2017-1 series COVSB2 bond.

Bond Ticker     ISIN Record    Date Payment Date Coupon  Amount Coupon  Paid in AMD Coupon 

COVSB2     AMCOVSB22ER9     05.11.17           06.11.17             $2.8750  AMD         1,392.56  

Coupon Frequency  Frequency Current Yield (bid/ask)

Semiannually                               5.65/5.35

The total coupon payment amounted to 83,553,820 Armenian drams.  Two-year fixed rate bonds with totally USD 6 million have been placed by public offering at face value on May 16, 2017. Maturity term of the issue was 730 days since inception with 4 coupon payments semiannually.

Converse Bank CJSC is one of the leading banks in Armenia with AMD 233.4 billion in assets and AMD 34.8 billion in equity reportedly (as of 01.10.17).  

The shareholders of Convere Bank CJSC are “Advanced Global Investments” LLC (80,94%) and Haypost Trust Management B.V. (14.06%), which ultimate beneficiary is the Argentinean businessman Eduardo Eurnekian, and the Armenian Apostolic Church (5%).