Commentary & Deal Flow

OJSC Ardshinbank, the largest bank in Armenia and one of the most profitable and well capitalized banks across the Caucasus and Central Asia region, rated Ba3 by Moody’s, BB- by S&P and BB- by Fitch (all stable), has mandated Citi and J.P. Morgan as Joint Global Coordinators and Joint Bookrunners together with Mashreq and Oppenheimer as Joint Lead Managers and Joint Bookrunners to arrange a series of fixed income investor calls and meetings in London commencing today, Monday 12 January 2026. A pre-recorded Global Investor Call has been made available. A Benchmark RegS/144A USD-denominated senior unsecured Loan Participation Notes offering by Dilijan Finance B.V with a maturity of 5 years will follow subject to market conditions. FCA / ICMA stabilization applies.