WB country manager for Armenia says proceeds from second issue of Eurobonds should be used to stimulate economy

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31.03.2015 18:27

YEREVAN, March 31. / ARKA /. Proceeds raised from the second issue of Eurobonds should be used to stimulate the economy, World Bank country manager for Armenia Laura Bailey said today.
She said the World Bank believes it is very important that the proceeds be used to stimulate economic activity in the country and assist the most vulnerable segments of the population in the next two years.

She noted that the buildup of external debt is important in terms of its ratio to GDP and to where the resources will be directed to. According to Ms. Bailey, the best way to use the resources is to boost production capacities and incomes and get out of the current difficult economic situation.

According to official data, Armenia raised $487.84 million from the second issue of Eurobonds after selling a $500 million 10-year dollar bond for only the second time on record on March 19, paying a yield of 7.5%. International law firm Cleary Gottlieb Steen & Hamilton LLC was hired by the Armenian government to act as an international consultant for the issue, while Deutsche Bank, HSBC Bank and JP Morgan acted as underwriters.

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Armenian government raises $487.84 million from second Eurobond issue

26.03.2015 17:40

Armenia has raised $487.84 million from the second issue of Eurobonds, deputy finance minister Pavel Safaryan said at a Cabinet session today

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Armenia plans second issue of $500 million eurobonds -WSJ

13.03.2015 14:34

Armenia is planning to meet investors in the U.S. and UK to discuss issuing its second dollar bond, The Wall Street Journal (WSJ) reported citing one of the banks arranging the roadshow

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Transactions with Armenia’s Eurobonds totaling $3.4 million made at secondary market in September

27.11.2014 17:47

Transactions with Armenia’s Eurobonds totaling $3.4 million were made at the secondary market in September 2014 against $4.78 million in August 2014, the Central Bank of Armenia says in a fresh issue of its monthly bulletin

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Eurobonds and gas agreement with Russia should reduce risk of increasing pressures connected with funding of Armenian government and increasing energy costs, IMF report says

07.11.2014 16:55

Placement of Eurobonds and gas agreement with Russia should reduce the risk of increasing pressures connected with funding of the Armenian government and increasing energy costs, according to IMF report ‘The Regional Economic Outlook for the Middle East and Central Asia”

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Foreign investors’ interest in Armenian eurobonds grows - NASDAQ OMX Armenia

16.07.2014 18:03

Foreign investors’ interest in Armenian Eurobonds has grown, NASDAQ OMX Armenia Stock Exchange CEO Konstantin Saroyan told journalists on Wednesday

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Armenian eurobond transactions in secondary market amounted to $7.9 million in February

23.04.2014 16:04

Armenian Eurobond transactions in the secondary market amounted to $7.9 million in February compared to $10.27 million in January, according to the monthly bulletin of the Central Bank of Armenia for February 2014

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Armenian eurobonds begin trading at NASDAQ OMX Armenia exchange

31.01.2014 18:22

On January 31, 2014 at a special ceremony held at NASDAQ OMX Armenia the launch of the Armenian Eurobonds trading at the exchange market was announced

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Armenia may raise from $2 to $3 billion from bonds

29.10.2013 15:51

On September 19 the Armenian government raised $700 million from its first-ever sale of Eurobonds on international markets. The 7-year bonds were sold through Deutsche Bank, HSBC and J.P. Morgan at a yield of 6 percent. An Armenian finance ministry statement said that investors were ready to buy as much as $3 billion worth of […]

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Safaryan says funds from sale of Armenian eurobond should be used to boost industry

11.10.2013 15:14

Vazgen Safaryan, the head of the Union of Domestic Manufacturers, says the funds raised from the sale of the first ever Armenian Eurobonds should be used to boost the industrial sector

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