Thursday, August 8 2013 17:30

Deutsche Bank AG, HSBC Bank plc and J.P.Morgan Securities plc to be managing underwriters of first Armenian Eurobonds


ArmInfo. Deutsche Bank AG, HSBC Bank plc and J.P.Morgan Securities plc will be the managing underwriters of the first Armenian Eurobonds. The Armenian Finance Ministry press service has told ArmInfo that the draft decision "On conclusion of an agreement with the managing underwriters of Armenian Eurobonds" was approved during the Aug 8 session of the Government. The draft decision was presented by Finance Minister David Sargsyan.

To recall, in May 2013 the Government of Armenia adopted a conceptual decision on issue and placement of sovereign bonds in the international capital markets. The first issue will comprise bonds worth a total of 500 mln USD with a maturity period of 10 years.

Experts think that the entry of Armenian Eurobonds into international markets promises to become an important event for the future corporate issuers as well. It will also be a benchmark for the foreign investors specializing in investments of companies from Emerging Markets. To note, Armenia's international rating is BB-.
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UCO CJSC "GLOBAL CREDIT"1
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