{"id":62240,"date":"2013-09-23T13:01:21","date_gmt":"2013-09-23T13:01:21","guid":{"rendered":"https:\/\/armbanks.am\/2013\/09\/23\/239401\/"},"modified":"2024-12-15T13:07:07","modified_gmt":"2024-12-15T13:07:07","slug":"armenian-foreign-currency-bonds-will-help-local-corporate-sector-to-diversify-their-sources-of-financing-ev-consulting","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2013\/09\/23\/62240\/","title":{"rendered":"Armenian foreign-currency bonds will help local corporate sector to diversify their sources of financing, ev consulting"},"content":{"rendered":"<p><strong>YEREVAN, September 23. \/ ARKA \/.<\/strong> Armenian foreign-currency bonds will help the local corporate sector to diversify their sources of financing, says managing partner of EV Consulting Manuk Yergnyan.<br \/>\nIn an interview with ARKA he said the first issue of foreign-currency bonds is a significant step for any emerging economy and a bid for a higher status.<\/p>\n<p>According to Yergnyan, Armenian eurobonds will serve as a guide for the formation of real interest rates in foreign currency and will eliminate the strain in the yield curve. &#8220;This is one of the key features of Eurobonds,\u201d he said.<\/p>\n<p>He said the average interest rate used to fund local banks is 6.5-7 percent. This figure is impacted also by funds raised outside the country. Therefore, the issue of euro bonds in the medium term can drag up interest rates.<\/p>\n<p>&#8220;The key factor influencing the economy also is how the funds will be used,&#8221;\u00a0 he said.<br \/>\nOn September 19 the Armenian finance ministry sold $750 million seven-year bond to price at a yield of 6.25%, attracting $3.25 billion in orders. The underwriters are Deutsche Bank AG, HSBC Bank plc and JPMorgan Securities plc.<\/p>\n<p>Fitch Ratings had earlier assigned the Republic of Armenia&#8217;s\u00a0 upcoming USD-denominated notes an expected &#8216;BB-(EXP)&#8217; rating. Last Friday Moody&#8217;s Investors Service lowered its foreign-currency bond ceiling on Armenia, citing the country&#8217;s low institutional strength and limited financial and trade openness. Now the highest rating that can be assigned to a domestic issuer in foreign currency in Armenia is Ba1, down from Baa.-0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Armenian foreign-currency bonds will help the local corporate sector to diversify their sources of financing, says managing partner of EV Consulting Manuk Yergnyan<\/p>\n","protected":false},"author":1,"featured_media":156888,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12147,9216],"tags":[13010,12459,13518],"class_list":{"0":"post-62240","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bonds-am-en-en","8":"category-news","9":"tag-eurobonds","10":"tag-financing","11":"tag-sources"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/62240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=62240"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/62240\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/156888"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=62240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=62240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=62240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}