Converse Bank Completes the Placement of EBRD Bonds
The European Bank for Reconstruction and Development (EBRD), one of the world’s leading international financial institutions with an AAA credit rating, and Converse Bank, one of the leading participants in the Armenian capital market, announce the successful completion of the placement of the EBRD’s AMD-denominated bonds.
Converse Bank acted as the EBRD’s key partner throughout the transaction, arranging the bond issuance and the guaranteed placement of the bonds.
The bonds, with a total nominal value of AMD 5 billion, were placed through an auction on Securities Placement Platform of Armenia Stock Exchange (AMX)..
The issuance forms part of the EBRD’s local currency funding program and aimed at expanding local currency financing and the development of Armenia’s capital market.
Following the completion of the placement, the bonds will be submitted for listing on the AMX and the necessary procedures will be initiated to enable their eligiblity for repo transactions with the Central Bank of Armenia.
Converse Bank will also act as the Market Maker for the issuance, supporting the liquidity of the bonds in the secondary market and promoting active trading.