ArmInfo. Converse Bank is the underwriter for the debut tranche of registered coupon bonds issued by the Vardanants Center for Innovative Medicine (CJSC "Arinterlev"). According to a statement from Converse Bank, the public offering of three-year dram bonds totaling 1 billion drams, with a coupon yield of 12% will start on the primary market on April 1 of this year. Specifically, 20,000 bonds were issued, each valued at 50,000 drams. Coupon payments will be made semi- annually. The initial offering period for this tranche is set to close on July 1, 2025, with the maturity date of this issue (AMARLVB21ER3) being April 1, 2028. For more detailed information on the offering, placement, and final terms of the prospectus, please visit the link: https://conversebank.am/hy/vardanants/ .
To make investing in bonds accessible to a wide range of investors, a minimum purchase limit of 2 bonds (each at 50 thousand drams) has been set. Interested individuals can purchase them through the Converse Mobile application (by clicking "+", then "Invest" and following the instructions), by visiting a bank branch, or by completing an application on the bank's website. Converse Bank Investment Department Director Grigory Zakaryan noted: "This marks the debut issuance for the medical sector, and we hope that it will establish a precedent for the Vardanants clinic and inspire other companies. I believe that access to capital markets is crucial for industries like healthcare, which require substantial investment in technology and innovation." The Vardanants clinic noted that this is the first case in Armenia when a medical institution attracts financing from the capital market. The statement also notes that upon completion of the initial placement, these bonds will be listed on the Armenian Stock Exchange for trading on the secondary market.
It should be noted that the participants of Arinterlev CJSC are the former Minister of Health of the Republic of Armenia, the founder of the insurance company (IC) Efes Levon Altunyan (30,97%), his partner in the IC and the director of the Efes company Arevshat Meliiksetyan (30.97%) and Grigor Vardanyan (26.75%).
