Converse Bank completes placement of Globbing`s Debut Bonds early

ArmInfo. Converse Bank has successfully completed the initial public offering of Globbing's (Global Shipping LLC) first dram-denominated registered coupon bonds ahead of schedule, totaling 1.5 billion drams. Additionally, on January 5, Converse Bank also completed an early placement of  Globbing's debut dollar-denominated bonds totaling $2 million.

The bank announced that these bonds will be listed on the Armenian Stock  Exchange for the secondary market trading. The initial public  offering of these issues was scheduled to commence on December 12,  2025, and close on February 12, 2026. However, the underwriter,  Converse Bank, completed the placement well ahead of the planned  timeline.

The AMD tranche (AMGLBSB21ER0) includes 30,000 bonds, each with a par  value of AMD 50,000, while the USD tranche (AMGLBSB22ER8) includes  20,000 bonds, each with a par value of USD 100. The coupon yield on  the AMD bonds is set at 12%, while on the USD bonds it is 8.25%. The  maturity of both issues is 36 months (3 years). Coupon payments for  both tranches are scheduled to be semi-annual. Full redemption of  both issues will take place on December 12, 2028.

The bank's statement noted that both Globbing's dram and dollar bonds  were in high demand, primarily among individuals. An unprecedented  number of applications from private investors-over 400-was  registered, demonstrating strong demand for the bank's financial  instruments and confidence in Globbing.  Converse Bank plans to  continue issuing and placing corporate securities, facilitating the  development of financial market instruments and creating new  opportunities for clients to invest in bonds of various companies and  for issuers to attract financing.

Globbing (Global Shipping LLC) is an international trading platform  that allows customers to make purchases from international stores and  receive them in Armenia. Founded in 2015, it employs over 150 people  and has warehouses in eight countries (USA, UK, China, UAE, Greece,  Germany, Italy, and Russia). The company's head office and branches  are located in Armenia, as well as the largest network of parcel  lockers (approximately 140 lockers and 3,800 safes). The company has  over 1 million registered users, and the number of parcels sent to  date exceeds 8.8 million.

According to the Financial Rating of Armenian Banks as of September  30, 2025, prepared by ArmInfo Investment Company, Converse Bank, one  of the leading bond issuers in the country, raised AMD 27.2 billion  ($71.1 million) from its own bonds. Over the past three years, the  bank has doubled this figure, increasing year-on-year by 35%. It  should be noted that Converse Bank, as an underwriter, successfully  and ahead of schedule placed bonds of Euroterm CJSC (trade brands  "Noyan" and "Menk") in dram amounting to 500 million, Medical LLC  (Hyebrid) in dram amounting to 100 million, and the Vardanants  Innovative Medical Center (Arinterlev CJSC) in dram amounting to 1  billion from 2023-2025. Globbing has also joined this list, choosing  Converse Bank as the underwriter for its debut issue of dram and  dollar bonds.  This move, as expected, ensured the early placement of  both the dollar and dram tranches.