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Society

Converse Bank Successfully Completes Globbing Bond Placement

Converse Bank announces the successful completion of the placement of Globbing bonds, reflecting strong investor demand and confidence in the company’s financial position and growth strategy.

A total of USD 2 million in bonds was placed, offering an annual coupon of 8.25% and a maturity of three years. The placement was completed ahead of schedule, demonstrating strong interest from both institutional and retail investors. Approximately 95% of the issue was placed with retail investors, confirming broad market participation.

The bonds will be listed on the Armenian Stock Exchange, providing transparency and secondary market liquidity for investors.

The proceeds from the placement will be used to support business expansion, strengthen the company’s balance sheet, and finance its long-term development initiatives.

Key terms of the bond issue:

  • Total volume: USD 2 million
  • Coupon rate: 8.25% per annum
  • Maturity: 3 years
  • Coupon payment frequency: semi-annual
  • Listing: Armenian Stock Exchange (in progress)