YEREVAN, November 20. /ARKA/. Armenia’s issue of Eurobonds and coming to international capital market is a great achievement, World Bank regional director for the South Caucasus Henry Kerali said.

On September 19 Armenia issued the first Eurobonds setting the final yield of 6%. The maturity period is seven years. The main underwriters were Deutsche Bank AG, London Branch, HSBC Bank plc и J.P.Morgan Securities plc.

According to Keral, the World Bank considers Armenia a mid-income country.

In other words, Armenia is not among poorest and neither richest countries, Kerali told a press conference Tuesday.

Kerali stressed poor countries cannot afford issuing Eurobonds. Eurobond issue shows the country reached a level where it can be trusted in the capital market, he said.

The Eurobond issue concept was backed by Armenia’s government in May. Respective legislation changes were made to foster non-resident investments in Armenia’s Eurobonds.

According to Armenia’s ministry of finance, demand for the bonds exceeded $3 billion.–0--