Pashinyan: thanks to third issue of Eurobonds, government will save $10 million a year on servicing its foreign debt

25.01.2020 15:51
Pashinyan: thanks to third issue of Eurobonds,  government will save  $10 million a year on servicing its foreign debt

KAPAN, January 25. /ARKA/. Armenian Prime Minister Nikol Pashinyan said on Saturday that thanks to the third issue of Eurobonds, the government will save $10 million a year on servicing its foreign debt.

The third issue of Eurobonds to the tune of $500 million was placed on September 26, 2019 on the international capital market with a 10-year maturity and 3.95% coupon yield, which is significantly lower than the coupon yield on the bonds of the previous two issues.

Pashinyan said the coupon yield on new Eurobonds was only 3.95% instead of 6% for repurchased Eurobonds. 'This means that the cost of servicing Eurobonds has significantly decreased for Armenia and due to this, the government will save about $10 million on servicing its external debt per year," he said at a press conference in Kapan.

According to the latest data of the National Statistics Committee (NSC), Armenia's overall public debt at the end of November 2019 stood at $7.166.076 billion, having decreased by $49.322 million from the previous month. At the end of 2018 Armenia's overall public debt was worth $6.922,512 billion.

According to the NSC, the government's external debt at the end of November 2019 stood at $5.626.252 billion, having grown by $52.963 million from the previous month -0-


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