ArmInfo. Converse Bank has launched the initial public offering of its next coupon-denominated dram bonds with an issue volume of 2 billion drams and two dollar bonds with a volume of $5 million each. According to Converse Bank's announcement, the initial public offering of these tranches, which began on November 18, is scheduled to be completed on February 18, 2026.
The dram tranche (AMCOVSB2OER8) will include 40,000 bonds, each with a par value of 50,000 drams. The coupon yield is set at 9.75%, and the maturity of this bond issue is 24 months, with coupon payments scheduled to be made semi-annually. This tranche will be fully repaid on November 18, 2027. A total of 100,000 bonds (50,000 in each tranche) will be issued for both dollar-denominated issues (AMCOVSB2PER5 and AMCOVSB2QER3), each with a par value of $100. The coupon yield for tranche AMCOVSB2PER5 is set at 5.25%, and for tranche AMCOVSB2QER3, it is 5%. The maturity of tranche AMCOVSB2PER5 is 48 months, and for tranche AMCOVSB2QER3, it is 36 months. Coupon payments for both tranches are scheduled for semi-annual payments. Tranche AMCOVSB2QER3 matures in full on November 18, 2028, and tranche AMCOVSB2PER5 matures on November 18, 2029.
The bonds in these issues will be placed both through the Converse Mobile platform and through the bank's branch network. According to the terms of the prospectus for these tranches (AMCOVSB2OER8, AMCOVSB2PER5, AMCOVSB2QER3), a minimum of five bonds can be purchased. Following listing on the Armenia Stock Exchange, these bonds will be admitted to trading on the secondary market.
Grigory Zakaryan, Head of Investment Department at Converse Bank, noted: "We strive to actively participate in the development of the Armenian capital market and consistently implement our strategy, offering clients modern and competitive investment instruments, including on digital platforms. As part of this effort, we continue to expand investment opportunities in various currencies and with longer maturities, simultaneously issuing our own bonds and assisting our partners in issuing theirs."
The funds raised through the placement of these bonds, in accordance with Converse Bank's development strategy, will be invested in priority areas such as the development of digital solutions for servicing existing and new clients, financing small and medium-sized businesses, and more.
The prospectus for these bonds and the terms of the issue are available on Converse Bank's website at https://conversebank.am/hy/Nov2025AMD/ and https://conversebank.am/hy/Nov2025USD/.
As a reminder, Converse Bank placed its previous bond issues on the primary market ahead of schedule. Demand for the Bank's corporate bonds demonstrates their competitiveness and interest in alternative investment opportunities.
According to the Financial Rating of Armenian Banks as of September 30, 2025, prepared by ArmInfo Investment Company, Converse Bank, one of the country's leading bond issuers, raised AMD 27.2 billion ($71.1 million) from its bond offerings. Over the past three years, the bank has doubled this figure, and year-on-year, by 35%.
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