On September 19, the Republic of Armenia issued the first Eurobonds of the country. Deutsche Bank, AG, London Branch, HSBC Bank and J.P. Morgan Securities plc are selected as the chief underwriters. The terms of issue are: the amount of issue – 700 mln US dollar, maturity period – 7 year, yield – 6%.
Moody’s Investors Service revised upward its sovereign credit outlook for Armenia to stable, grade credit rating of Ba2, and Fitch Ratings has affirmed Armenia at ‘BB-‘ with a Stable Outlook.
According to Armenian Minister of Finance David Sargsyan, international experts have highly appreciated the results of the underwriting of the first sovereign Eurobonds and have welcomed Armenia’s entry into the international capital market.
According to the Minister, the issuing of Eurobomds diversifies the financial sources of the country and sets a landmark, which the private issuers will be able to use in the future.
The demand for the Eurobomds issued by Armenia has exceeded $3 bln, the Ministry of Finance informs.