Inecobank and Converse Bank dollar bonds listed on AMX
Dollar bonds of Inecobank and Converse Bank will start trading on the Armenia Stock Exchange (AMX) on October 15. The two issues have a combined nominal value of $15 million.
The AMX Chief Executive Officer approved the decisions on October 12. The registered coupon bonds are admitted to the main bond list (Abond), with October 15 as both the listing date and the first trading day.
Both issues have a 36-month term and a 5% coupon, paid semi-annually, six payments in total. For comparison, the yield to maturity of AMX’s USD Corporate Bond Market Index (CBMI_USD) was 4.89% on October 12.
Inecobank placed 100,000 bonds with a nominal value of $100 each, totalling $10 million. The placement ran from September 3 to 24, and the bonds mature on September 3, 2029.
Converse Bank placed 50,000 bonds with a nominal value of $100 each, totalling $5 million. The placement ran from August 26 to September 29, and the bonds mature on August 26, 2029.
| Inecobank | Converse Bank | |
|---|---|---|
| Ticker | INECBU | COVSBS |
| ISIN | AMINECB2UER9 | AMCOVSB2SER9 |
| Issue size | $10 million | $5 million |
| Coupon | 5% | 5% |
| Maturity | September 3, 2029 | August 26, 2029 |
| Coupon payments | semi-annual | semi-annual |
On AMX, the corporate bond market totals AMD 1.06 trillion (about $2.93 billion) and market capitalisation AMD 353.1 billion. A total of 278 securities of 64 issuers are listed and admitted to trading.
