YEREVAN, February 10. /ARKA/. A total of $73.12 million worth Eurobonds were traded at Armenia’s secondary securities market in 2016, down from $110.36 million traded in 2015, the Central Bank said in its monthly bulletin for December 2016. The average yield on an Armenian Eurobond in 2016 was 5.85%, down from 6.46% in 2015.
The yield on Armenian Eurobonds was changing throughout the passed year. Thus, in 2016 December it was 7.01%, descending to 4.72% in August.
At the end of the year the yield showed a slight increase. In November, it grew to 6.32%. No transactions with Eurobonds were effected in December.
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. ($1 – 486.66 drams). -0-
