YEREVAN, July 4. /ARKA/. The Government of Armenia at a meeting today made a decision on the procurement of services for issuing new Eurobonds to redeem a previous issue. Finance Minister Atom Janjughazyan said the decision is in tune with the government’s program of actions.
He said the government’s decision proposes a regulation that will allow arranging the redemption of the first issue of Eurobonds. He added that the regulation will provide quality services to refinance $500 million worth Eurobonds of the first issue, scheduled for September 30, 2020.
Armenia first issued $700 million worth dollar-denominated bonds in September 2013 at the yield of 6.25 percent and a maturity of 7 years. The bulk of $700 million was used to repay a $500 million Russian loan ten years ahead of schedule. The second issue was carried out in March 2015 in the amount of $500 million with a yield of 7.25% and a maturity period of 10 years. . -0-
