Converse Bank placed Vardanants Medical Center`s debut bonds  ahead  of schedule 

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."