The announcement on the complete allocation of "Euroterm" bonds ahead of schedule.
Socity
Converse Bank announces on the completion of Euroterm CJSC corporate bonds allocation ahead of schedule. From 28.11.2023 to 12.01.2024, Converse Bank allocated bonds with total volume of AMD 500 million with a coupon rate of 12.5% and a maturity of 36 months.
Grigori Zakaryan, director of Converse Bank's Investment Department noted: "Allocation of our partner “Euroterm’s” bonds is a new successful experience for Converse Bank. The completion of the allocation ahead ofschedule indicates the increasing demand for debt securities in the RA financial market, as well as it emphasizes the trust and confidence in Euroterm/Noyan brands.
The Bank aims to continue organizing bonds issuance and allocation from economy’s real sector companies, creating new opportunities for customers to invest in the securities of various sectors’ companies, and providing the issuing companies with new possibilities of raising finance. Converse Bank is willing and ready to provide these services to companies that are eager to enter the financial markets, take advantage of their opportunities and diversify the structure of liabilities. Moreover, the entire process of issuance, from document collection support to allocation procedure, will be organized by Converse Bank, with the application of advanced digital technologies."
Due to the announced low purchase threshold (minimum of ten bonds with a nominal value of AMD 10,000 each), the Euroterm bonds became available to more than 150 investors. The user-friendly Converse Mobile application made the investment even more hassle-free. Overall, more than 70% of the bonds were placed via mobile application.
The bonds will be listed on the Armenian Stock Exchange for circulation on the secondary market. Converse Bank will act as a bond market maker.
Converse Bank is supervised by the Central Bank of Armenia.
