EBRD to Launch AMD 5 Billion Floating-Rate Bond Offering in Armenia

The European Bank for Reconstruction and Development (EBRD) is set to launch a new AMD 5 billion floating-rate bond issuance in the Armenian capital market, reaffirming its commitment to supporting the development of local currency financing and deepening Armenia’s financial markets.

The bond placement is scheduled to take place on 7 July 2026 through an auction on the Armenia Securities Exchange (AMX).

Converse Bank has been appointed as the underwriter. As one of the leading participants in Armenian capital market, Converse Bank has successfully arranged and placed numerous corporate bond issues in recent years. The EBRD bond offering represents another significant milestone for the Bank, highlighting its expertise in capital markets transactions and investment solutions.

The bonds will have a maturity of 36 months and will pay a floating coupon linked to the 6-month Treasury Bills yield. The coupon rate will be reset every six months, enabling investors to benefit from changes in the interest rate environment while maintaining a market-based return profile.

The issuance of AMD-denominated bonds by the EBRD is an important development for Armenian financial system. Such instruments contribute to the growth of the local currency capital market, support the development of long-term funding sources, and further strengthen the participation of international financial institutions in the domestic market. At the same time, investors gain access to securities issued by a highly rated international financial institution with a return linked to prevailing market conditions.

Following the completion of the placement, the bonds are expected to be listed on the Armenia Securities Exchange. In addition, the necessary procedures will be initiated to enable the bonds to be eligible for repo transactions with the Central Bank of Armenia. This is expected to further enhance the bonds’ liquidity and attractiveness in the secondary market.

Investors may participate in the auction through investment service providers that are members of the Armenia Securities Exchange.

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Converse Bank is supervised by the Central Bank of the Republic of Armenia