ArmInfo. The price of new tranches of Armenian sovereign Eurobonds continues to grow rapidly. Today, Armenia has placed among international investors the 4th issue of 10-year debt securities in the amount of $ 750 million. The established annual yield of the 4th issue bonds was lower than the yield of the 3rd issue - 3.875% versus 4.625%.
According to the Bloomberg information system, the demand of investors for Armenian debt securities exceeded $ 2.5 billion. The initial target for the yield of Eurobonds to maturity in February 2031 was 4.375-4.5% per annum.
The main underwriters of the 4th tranche were City Bank, J.P. Morgan Securities plc. and HSBC Bank Plc. The Ministry of Finance of Armenia confirmed the fact of the placement, but refused to comment on it, saying that an official announcement about it would be in the coming days.
Note that Armenia issued the previous third tranche of Eurobonds on September 19, 2019 for a period of 10 years in the amount of $ 500 million, the second tranche was also issued for the same period in the amount of $ 500 million and was issued on March 19, 2015, and the debut issue took place on September 19, 2013 in the amount of $ 700 million for a period of 7 years. The yield on the first tranche was 6.25%, the securities were redeemed by September 30, 2020. The yield on the second tranche was 7.5%.
The main underwriters of the Armenian eurobonds of the 3rd issue were J.P. Morgan Securities plc. and City bank. To ensure the availability of not only foreign but also local investors, sovereign Armenian Eurobonds of the 3rd issue began to be quoted on the AMX Armenian Stock Exchange. Local investors' access to Armenian Eurobonds was opened thanks to the active cooperation of the Central Depository of Armenia (CDA) with a partner, Clearstream Banking Luxemburg.