ArmInfo. Converse Bank, acting as the underwriter of the debut bonds of the Vardanants Innovative Medical Center (Arinterlev CJSC), announced the early completion of the public placement of this tranche. As explained in the message of Converse Bank, the tranche issued on April 1 was fully placed on the primary market by April 11, instead of the originally planned end date of July 1.
The issue volume of this tranche in drams is 1 billion drams, with a coupon yield set at 12%, and a circulation period of 36 months. Specifically, 20,000 bonds were issued, each valued at 50,000 drams. Coupon payments are scheduled to be made every six months, with the maturity date of this issue (AMARLVB21ER3) set for April 1, 2028. Once listed on the Armenian Stock Exchange, the bonds will be also be listed on the secondary market.
The statement emphasized: "The early completion of the placement of Vardanants Medical Center bonds indicates investors' confidence in the center and high demand for Converse Bank services. The investors were both individuals and legal entities, including mandatory pension funds operating in Armenia. Thanks to the bank's digital and technological infrastructure, a large number of transactions for the purchase of bonds were made through the Converse Mobile application, which not only provided convenience, but also accelerated the transaction process. 88% of individuals preferred to invest in these bonds through Converse Mobile." Levon Altunyan, CEO of Vardanants International Investment Center, noted: "The early and successful completion of the placement of these corporate bonds is not only a significant financial achievement, but also a clear indication of the market's trust in our brand, our long-term vision and strategy."
