Friday, November 8 2013 20:22

Ameriabank first bank in Armenia to give its customers an exclusive chance to buy Armenian Eurobonds in the international capital market


ArmInfo. Ameriabank is the first bank in Armenia to give its customers an exclusive chance to buy Armenian Eurobonds in the international capital market. Demand for Armenian dollar bonds has already exceeded 3 billion, the Bank told ArmInfo. Experts say introduction of Armenian Eurobonds is an important event for the corporate emitters and a kind of benchmark for foreign investors in securities of the companies in the emerging markets.

The Government of Armenia adopted a conceptual decision to issue and place sovereign bonds in the international capital market yet in May 2013. Armenia issued the first Eurobonds late at night on 19 September. The major underwriters are Deutsche Bank AG, LondonBranch, HSBC Bank plc and J.P.Morgan Securities plc. On 20 September, the Finance Ministry of Armenia announced successful placement of the bonds for $700 million with a maturity of 7 years and a 6% annual yield. During placement, a lower price with a 6.25% annual yield was registered, however.

By the latest data, Moody's assigned Ba2 "Outlook Stable" rating to Armenia, while Fitch assigned BB- rating "Outlook Stable." In Sept 2013 Moody's Investors Service has changed Armenia's foreign-currency bond ceiling to Ba1 from Baa3 due to the low institutional strength in addition to limited financial and trade openness. If Armenia's government bond rating changes, Moody's may reassess the country's ceilings.
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Company bonds
UCO CJSC "GLOBAL CREDIT"1
UCO CJSC "GLOBAL CREDIT"3
UCO CJSC "GLOBAL CREDIT"4
UCO CJSC "GLOBAL CREDIT"5
UCO CJSC "GLOBAL CREDIT"7
"National Mortgage Company"2A
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