Armenia to issue Eurobonds again in 2019

18.11.2016 16:33
Armenia to issue Eurobonds again in 2019

YEREVAN, November 18. /ARKA/. Armenia is thought to carry out a new emission of Eurobonds in 2019, Arthur Javadyan, head of the Central Bank of Armenia, said Thursday while discussing the 2017 draft government budget with members of the National Assembly.

He said he sees some progress at the market – rates are stably going down showing the rising confidence in Armenian securities.

This shows that Armenia’s decision to issue securities has proved to be right.

Javadyan said that the central bank is steadfast in its determination to continue this initiative – a new emission is planned to be carried out in 2019. He said that the amount and other indicators will be decided later.

Armenia has issued Eurobonds twice – on September 19, 2013 it issued seven-year Eurobonds totaling $700 million with 6-percent annual yield and March 30, 2020 maturity date and on March 26, 2015 it issued ten-year Eurobonds amounting to $500 million with 7.15% yield and March 26, 2025 maturity date.

Now Eurobonds worth $500 from the first emission are in circulation now, since the finance ministry redeemed $200 million.

According to the regulator, transactions with Eurobonds at the secondary market totaled $110.36 million in 2015 with the annual yield of 6.46%.

In early 2016, securities continued devaluating (7%) as the dollar was going up against the Armenian dram, but later things changed as the national currency started strengthening - average annual yield of Eurobonds stood at 6.44% in March and at 4.85% in September. --0----


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