7 July, Yerevan – The European Bank for Reconstruction and Development (EBRD), one of

the world's leading international financial institutions with an AAA credit rating, and Converse

Bank, one of the leading participants in the Armenian capital market, announce the

successful completion of the placement of the EBRD's AMD-denominated bonds.

Converse Bank acted as the EBRD's key partner throughout the transaction, arranging the

bond issuance and the guaranteed placement of the bonds.

The bonds, with a total nominal value of AMD 5 billion, were placed through an auction on

Securities Placement Platform of Armenia Stock Exchange (AMX)..

The issuance forms part of the EBRD's local currency funding program and aimed at

expanding local currency financing and the development of Armenia's capital market.

Following the completion of the placement, the bonds will be submitted for listing on the

AMX and the necessary procedures will be initiated to enable their eligiblity for repo

transactions with the Central Bank of Armenia.