Converse Bank launches new $2 million bond offering for Globbing

ArmInfo. On August 14, Converse Bank announced  the commencement of a new $2 million bond issuance for Global Shipping LLC. According to a statement from Converse Bank, the initial placement is scheduled to be concluded on October 30, 2026.  

Converse Bank, which served as the underwriter for  the company's two previous bond tranches, successfully finalized  those placements ahead of schedule. Globbing utilized the capital  raised in earlier rounds to expand its network of lockers in Armenia  and abroad, develop innovative service centers, introduce new service  lines, and implement various digital solutions and refinancing  initiatives.

The new tranche (ISIN: AMGLBSB23ER6) consists of 20,000 bonds, each  with a nominal value of $100.  Key terms include: Annual Coupon  Yield: 8.25%; Maturity Term: 36 months; Maturity Date: August 14,  2029 and Coupon Payment Frequency: Semi-annual.  Investors may  purchase the bonds through the Converse Mobile application or at any  Converse Bank branch, with a minimum purchase requirement of two  bonds.

"We are pleased to see such high interest in our bond offerings,"  said David Arutyunyan, founder and CEO of Globbing. "It is  particularly significant that approximately 90% of our investors were  private individuals.  This is not only a financial success but a  vital indicator of the trust the public has placed in Globbing. With  this new issuance, we plan to secure additional capital to continue  our development programs and drive further growth."

Hrant Hakobyan, CEO and Chairman of the Directorate of Converse Bank,  underscored the importance of diversifying corporate financing  sources, noting that it allows businesses to optimize capital  structures while offering investors broader portfolio opportunities.  "The early placement of Globbing's debut bond tranche demonstrated  that corporate interest in the capital market aligns well with  investor demand for these instruments," Hakobyan stated. "Converse  Bank remains committed to supporting businesses in this area,  expanding the range of available investment tools, and contributing  to the deepening of the Armenian capital market."

Following the completion of the initial public offering, the bonds of  this issue will be listed on the Armenian Securities Exchange (AMX).   For additional details, including the bond prospectus and final  terms, please visit the Converse Bank official website.

Recall, Globbing (Global Shipping LLC) is an international trading  platform that allows 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 (the USA, UK, China, UAE,  Greece, Germany, Italy, and Russia). Its 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 shipped to date  exceeds 8.8 million.

According to the Financial Rating of Armenian Banks as of December  31, 2025, prepared by ArmInfo Investment Company, Converse Bank, one  of the country's leading bond issuers, raised AMD 28.2 billion ($74  million) from its own bond placements. Over a three-year period, the  bank doubled this figure, and by 17% year-on-year.

It is worth noting that Converse Bank, as an underwriter,  successfully and early placed bonds of Euroterm CJSC (Noyan and Menk  brands) in 2023-2025 (AMD 500 million), Medical LLC (Hyebrid) in AMD  100 million, and the Vardanants Innovative Medical Center (Arinterlev  CJSC) in AMD 1 billion. In December 2025, In December 2025, logistics  provider Globbing selected Converse Bank as the underwriter for its  debut issuance of dram and dollar-denominated bonds, both tranches of  which were successfully placed ahead of schedule. The subsequent  second tranche of Globbing's bonds was similarly completed early  under Converse Bank's management.

Expanding beyond corporate issuances, Converse Bank also served as  the underwriter for a three-year, AMD 5 billion dram-denominated bond  offering by the European Bank for Reconstruction and Development  (EBRD), featuring a floating coupon rate and launched on July 7,  2026.  0-