Converse Bank announces the launch of the placement of the next tranche of bonds of Globbing ("GLOBAL SHIPPING" LLC) in US dollars. The bond placement will take place from August 14 to October 30 through the Converse Mobile app and the branch network of Converse Bank.
The bank has reported that the total volume of this placement is 2 million US dollars. The nominal value of the bonds is 100 US dollars, the term of circulation is 36 months, and the annual coupon yield is 8.25%. Coupon payments are scheduled to be made semi-annually.
The first two tranches of Globbing bonds were also placed by Converse Bank, and the placement was completed ahead of schedule. The funds raised will be directed by the company to the expansion of its network of lockers, innovative service halls, the introduction of new services, refinancing, and the application of digital solutions both in Armenia and abroad.
"We were pleased to see that our bond issuance generated such great interest. It was especially important for us that about 90% of investors were individuals. This is not only a financial result but also an important indicator of trust in Globbing. Through this new issuance, we plan to attract additional funds to continue our development programs and stimulate the further growth of the company," said David Harutyunyan, the founder and CEO of Globbing.
The CEO of Converse Bank, Grant Hakobyan, emphasized the importance of diversifying sources of business financing, which allows companies to manage their capital structure more effectively and investors to expand their investment portfolio opportunities.
"The early completion of the placement of the first tranche of Globbing bonds demonstrated that the interest of companies in the capital market aligns with the demand for such instruments from investors. Converse Bank will continue to support businesses in this regard by increasing the range of investment instruments available to businesses through placements and contributing to the deepening of the capital market," noted Grant Hakobyan.
After the completion of the placement, the bonds will be presented for listing on the Armenian stock exchange.
You can find the program prospectus and final terms of the issuance here. Converse Bank is regulated by the Central Bank of the Republic of Armenia.
