Javadyan: successful first Eurobond emission ensures presence at world markets to Armenia

Javadyan: successful first Eurobond emission ensures presence at world markets to Armenia

TSAKHKADZOR, February 7. /ARKA/. Thanks to a successful initial emission of Eurobonds and their placement at international markets, Armenia has found its niche on the map of international markets, Arthur Javadyan, head of the Central Bank of Armenia, said Friday at a conference focused on Armenia’s capital market. 

Eurobonds were sold on international markets on September 19 for the first time at a relatively high yield of at least 6 percent. They total $700 million and their maturity term is 7 years. The underwriters are Deutsche Bank AG, HSBC Bank plc and JPMorgan Securities plc. 

According to the finance ministry, after the emission of Armenian debut Eurobonds, demand for them reached $3 billion exceeding the offer several times, and their yield shed from 6.25% in September to 5.85%-5.8% in December. 

On January 31 Armenian Eurobonds were listed at NASDAQ OMX Armenia for trading. It was followed by the first transaction worth $300,000.

“I think that this had also a favorable impact on our country’s rating,” Javadyan said adding that every effort has been made to issue these Eurobonds. “Plenty is being done today to ensure foreign investors’ access to government bonds.”

Conference “Armenian Capital Market: New Opportunities and Challenges” was launched in Armenia’s Tsakhkadzor resort town on Friday. The conference is attended by head of the Central Bank of Armenia Artur Javadyan, minister of finance David Sargsyan, EBRD head of department for local forex and capital markets Andre Kuusvek, director of NASDAQ OMX Armenia stock exchange Konstantin Saroyan, IMF resident representative in Armenia Teresa Daban Sanchez as well as heads of Armenian banks and representatives of leading financial organizations. -0----

16:00 07.02.2014

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