ArmInfo. Intelligent Management Holding, founder and shareholder of EFES Insurance Company and Vardanants Innovative Medical Center, announces the debut issue of registered coupon bonds in AMD and USD in the amount of 1 billion AMD and 2.5 million USD. Ameriabank will act as the underwriter. According to Ameriabank's announcement, during the period from December 15, 2025 to March 27, 2026 inclusive, Ameriabank CJSC is arranging the public offering of Intelligent Management LLC nominal coupon- paying book entry bonds.
The AMD tranche will issue 10,000 bonds with a par value of AMD 100,000 each, while the USD tranche will issue 25,000 bonds with a par value of USD 100 each. The maturity of both tranches is 36 months (3 years). The annual coupon yield is set at 11.9% for the AMD bonds and 7.9% for the USD bonds. Coupon payments for both tranches are scheduled to be semi-annual.
Bonds can be purchased either online through the MyInvest investment platform in Ameriabank's MyAmeria app, or by visiting any Ameriabank branch and completing an application to email to [email protected] . Investors should note that the minimum limit for purchasing the USD tranche is two bonds. "Intelligent Management" LLC bond program prospectus was registered by the Central Bank of Armenia on December 3, 2025. The bond purchase procedure, the electronic version of the programmatic prospectus, and the public offering announcements are available on Ameriabank's website at the following links: https://ameriabank.am/media-room/articleid/9033/upcoming-amd-bond-december - for AMD bonds, https://ameriabank.am/media-room/articleid/9034/upcoming-usd-bond-december - for USD bonds.
Full details about the issuer and the proposed bonds, as well as the associated risks, are provided in the program prospectus. Following the completion of the primary placement, the bonds will be listed on the Armenian Securities Exchange and will be traded on the secondary market.
The announcement noted that Intelligent Management Holding will use part of the proceeds from the bond placement for a construction of a modern, multifunctional Vardanants-Kirk Kerkorian Health and Longevity Center, and the other part will be used for refinancing existing loans. This is the first time a group combining healthcare and financial services has entered the Armenian capital markets. Intelligent Management offers investors participation in a real, growing, and long-term stable market. This initiative creates a new and sustainable healthcare financing model with significant growth potential.
The Armenian healthcare sector is demonstrating stable development thanks to population growth, migration flows, and high demand for quality medical services. Diagnostic, surgical, and rehabilitation services are creating additional momentum due to the high frequency of services. The development of innovative insurance products, particularly critical illness and oncology insurance and comprehensive auto insurance programs, is increasing demand for insurance services, creating synergies between insurance and clinical services. To make healthcare, insurance, and assistance services more accessible, convenient, and simple for everyone, Intelligent Management has combined these three important components into a single ecosystem.
Arevshat Meliksetyan, Director of Intelligent Management Holding, noted: "As part of the new stage of our strategic development, our company will begin raising financial resources through the issuance of corporate bonds, a part of which will be used for the construction of the innovative medical center named Vardanants-Kirk Kerkorian. We are confident that this new project will make medical care more accessible and high-quality, providing specialized care without queues and complex routes. Our goal is to create a medical center for our fellow citizens and foreign clients, particularly for our compatriots living in the US, EU, and Russia, where most issues are resolved in a single visit, and health no longer depends on distance and time.
Recall, Intelligent Management Holding is a diversified holding company specializing in investments in promising assets in healthcare, insurance, asset management and development sectors. The holding includes the Vardanants Innovative Medical Center, EFES Insurance Company, and Bonus Assistance, an assistance and logistics company. Intelligent Management has over 800 experienced specialists, serves approximately 380,000 clients annually, registers 135,000 settled insurance claims, and performs 530,000 medical interventions.
Ameriabank is a leading financial and technological institution, a significant player in the Armenian economy. As part of its digital transformation strategy, the Bank introduces and continuously improves unique products, services, and innovative platforms aimed at meeting the financial and non-financial needs of individuals. As a dynamically developing fintech environment, Ameriabank offers comprehensive solutions that improve quality of life. It is worth noting that just recently (December 10, 2025), Ameriabank acted as the underwriter for the debut registered coupon bonds denominated in Armenian drams of Alfa-Pharm CJSC (the largest pharmacy chain in Armenia) in the amount of 1.5 billion drams.
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