Friday, September 20 2013 11:15
Armenia launches its debut Eurobond issue of $700 million
ArmInfo. Armenia issued its debut eurobonds on 19 September, the Armenian Finance Ministry told ArmInfo.
Deutsche Bank AG, LondonBranch, HSBC Bank plc and J.P.Morgan Securities plc are the key underwriters of the issue. The debut issue of eurobonds for $700 mln with a 7-year maturity and 6% yield was placed successfully. Moody's Rating for Armenia is "Ba2" outlook stable. Fitch Ratings has assigned Armenia foreign and local Issuer Default Ratings (IDR) of "BB-" with a Stable Outlook.
Earlier, Prime Minister of Armenia Tigran Sargsyan said the issue of eurobonds was a political decision. Armenia seeks to redeem the stabilization loan from Russia through placement of eurobonds.