Converse Bank said it has completed the placement of Globbing’s dollar-denominated bonds ahead of the scheduled deadline.
The issue totaled $2 million, carries an annual coupon yield of 8.25%, and has a three-year circulation term.
The funds raised are expected to be used for Globbing’s development and for programs aimed at supporting the company’s further growth.
The bank said its investment offerings continue to draw demand from both retail and corporate investors. According to Converse Bank, that interest is an incentive to continue coming to market with new issues.
Following the completion of the placement, the bonds will be submitted for listing on the Armenia Securities Exchange.
Converse Bank is supervised by the Central Bank of Armenia.
