In a landmark transaction for Armenia’s financial and technology sectors, six leading financial institutions: Ardshinbank (lead lender), Acba Bank, Evocabank, Fast Bank, C-Quadrat Ampega Asset Management Armenia, and Amundi-Acba Asset Management Fund, came together for the first time to finance a project of unprecedented scale in the Republic of Armenia, reflecting strong market confidence in one of Armenia’s most ambitious and transformative technology initiatives.

Badasyan Consulting LLC is proud to have played a leading legal role in the US$300 million syndicated loan financing supporting the first phase of the Firebird AI megaproject in Armenia, a project that stands at the intersection of artificial intelligence, infrastructure development, and long-term digital transformation.

Badasyan Consulting LLC was entrusted with multiple, strategically significant mandates across the financing structure. The firm demonstrated its full-spectrum capabilities in complex cross-institutional transactions, advising both lenders and the project company within a tightly coordinated compliance framework.

On the lender side, Managing Partner Roustam Badasyan, together with Senior Lawyer Hagop Keuchkarian, acted as counsel to the lead lender, providing comprehensive legal support throughout the structuring, drafting, negotiation, and execution phases of the syndicated loan agreement and associated pledge documentation. Their work ensured alignment among multiple financial institutions and contributed to the successful closing of a highly complex multi-party financing structure.

Concurrently, Director Davit Baklachyan, Senior Lawyer Marianna Grigoryan, and Lawyer Narek Hovhannisyan acted as local counsel to Firebird AI CJSC. In this capacity, the team provided end-to-end legal support to the borrower, ensuring full compliance with Armenian legal and regulatory requirements and safeguarding the project company’s position in relation to its obligations under the syndicated financing. The team also played a critical role in mitigating potential conflicts arising from parallel financing arrangements.

To enable seamless execution of this dual-mandate structure, the firm implemented a robust Chinese wall compliance framework, ensuring strict separation of teams, preservation of confidentiality, and full adherence to the highest standards of legal ethics and professional responsibility.

This transaction represents a significant milestone not only for the participating financial institutions and stakeholders, but also for Armenia’s broader financial ecosystem. It underscores the increasing sophistication of the local banking sector and reinforces Armenia’s growing position as a regional hub for technology, innovation, and large-scale investment projects.

Badasyan Consulting LLC is honored to have contributed to this precedent-setting transaction and remains committed to supporting transformative projects that shape the future of Armenia’s economy and legal landscape.