YEREVAN, 23 May. /ARKA/. Net proceeds from two issues of Armenia’s Eurobonds in 2015 amounted to 136 billion drams, Deputy Finance Minister Atom Janjughazyan said today during a parliamentary discussion on the execution of 215 state budget.
Armenia first issued $700 million worth dollar-denominated bonds in September 2013 at the yield of 6.25 percent. The bulk was used to repay a $500 million Russian loan ten years ahead of schedule.
Armenia sold a second issue of $500 million 10-year dollar bond on March 19, 2014 paying a yield of 7.5%.
Deutsche Bank, HSBC Bank and JP Morgan acted as underwriters. Of that amount, about $205.8 million was spent to buy back part of the previous dollar bond issue carried out in 2013.
“Rates on Eurobonds in international financial markets are determined by an assessment of the issuer and are based on many factors, such as the rating of the country, its ability to service debts and economic opportunities. All these factors shape the market rate, which also reflects the country’s rating,’ Janjughazyan said. -0-
