ArmInfo. Prime Minister Nikol Pashinyan announced that an Armenian commercial bank has successfully issued an unprecedented volume of Eurobonds on international financial markets, with investor demand exceeding supply by more than three times.
"Last week, on January 14, marked another significant milestone for Armenia's financial sector," Pashinyan stated in a social media post. "One of Armenia's banks issued an unprecedented $600 million in Eurobonds on international markets with a 5-year maturity and a yield of 6.6%. The total demand for the Eurobonds surpassed $2 billion."
Last week, on January 14, Ardshinbank issued an unprecedented volume of Eurobonds worth USD 600 million, with a maturity of 5 years and a yield of 6.6%. This is an extremely important event for Armenia's financial sector. The demand for the issued Eurobonds exceeded USD 2.1 billion. The transaction carried out by Ardshinbank is unprecedented for Armenia, since no private institution has previously attracted such a volume of funds or generated such a significant inflow of foreign investment into the country through a single transaction. Demand at the time of the bond issuance exceeded USD 2.1 billion, once again demonstrating that the bank's level of transparency, risk profile, and business strategy are acceptable to international investors and fully comply with internationally recognized standards. The attraction of new five-year long-term financial resources enables Ardshinbank to offer long-term investment financing on affordable terms not only to key companies in the Armenian economy, but also to the general population.
Commenting on the event, Ardshinbank's Chairman of the Management Board, Artak Ananyan, noted: "This is the fourth issue of Ardshinbank's Eurobonds, and it has become the largest not only in terms of issuance, but also in the modern history of Armenia. We fully recognize and bear the responsibility of representing our country in international markets as a driving force of the economy. This once again proves that we stand by our clients, supporting their business development, while consistently financing large and strategically important projects implemented in the country."
Ardshinbank is the leading Bank in Armenia with a diversified universal banking offering including retail and commercial banking, investment banking, and private & wealth solutions. The Bank has over 570,000 customers served by 2,300+ employees, a strong omnichannel distribution platform with 72 branches. Ardshinbank is the only private entity in Armenia with assigned ratings from three international rating agencies, all at the level of the sovereign, as follows: S&P Global Ratings (BB- (Stable)), Moody's (Ba3 (Stable)) and Fitch (BB- (Stable)).
