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"Converse Bank" CJSC Started Payments of Medium-Term Coupon Bonds


Starting from 16 March Armenian Converse Bank realizes interim payments on nominal medium-term coupon bonds.

According to the information provided Wednesday to ARKA agency by Converse Bank's Public Relations Service, 787.1 AMD is paid for each coupon, and the total amount anticipated for payment on these coupons makes 7.871.thousand ADM. According to the message, as of 17 March the Bank has already paid 7,866, 277 AMD.

The message also notes that the distribution of the first tranche of nominal medium-term bonds began on 16 December 2008.

The nominal volume of placed bonds makes 300 million AMD, maturity term - three years, annual yield is defined at 10.64%. Thus, the coupon income will be paid quarterly.

As noted in the report, total nominal volume of bonds issued by the bank makes 1.5 billion AMD. Emission volume makes 50 thousand bonds with a nominal value of 30 thousand AMD each. Placement of bonds will be carried out in several tranches.

"Converse Bank" CJSC was registered in 1993. The Bank's shareholders are "Advanced Global Investments" LLC - 95% (President - Eduardo Ernekyan) and Armenian Apostolic Church - 5%. The Bank has about 550 employees, its branch network consisted of 25 filial branches covers 13 cities of Armenia.


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