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ARMENIA HIRES BANKS FOR DEBUT EUROBOND
Reuters
Aug 9 2013
By Davide Scigliuzzo
Fri Aug 9, 2013 11:33am EDT
LONDON, Aug 9 (IFR) - The Republic of Armenia, rated Baa2 by Moody's
and BB- by Fitch, has hired Deutsche Bank, HSBC and JP Morgan to lead
the issue of its debut US dollar-denominated Eurobond, according to
the country's finance ministry.
" government approved finance minister's proposal about an agreement
with lead-managers to issue Eurobonds. Three companies - Deutsche Bank,
HSBC and JP Morgan have been selected as lead-managers of the issue,"
the finance ministry said in a statement on its website.
In May, Prime Minister Tigran Sarksyan said the sovereign plans to
raise USD500m through its first Eurobond sometime this year.
It plans to use the proceeds to repay the country's USD500m debt to
Russia, which it received in 2009 to help it through the financial
crisis. (Reporting by Davide Scigliuzzo in London and Hasmik Lazarian
in Yerevan; Editing by Sudip Roy)
http://www.reuters.com/article/2013/08/09/armenia-eurobond-idUSL6N0GA3IY20130809
Reuters
Aug 9 2013
By Davide Scigliuzzo
Fri Aug 9, 2013 11:33am EDT
LONDON, Aug 9 (IFR) - The Republic of Armenia, rated Baa2 by Moody's
and BB- by Fitch, has hired Deutsche Bank, HSBC and JP Morgan to lead
the issue of its debut US dollar-denominated Eurobond, according to
the country's finance ministry.
" government approved finance minister's proposal about an agreement
with lead-managers to issue Eurobonds. Three companies - Deutsche Bank,
HSBC and JP Morgan have been selected as lead-managers of the issue,"
the finance ministry said in a statement on its website.
In May, Prime Minister Tigran Sarksyan said the sovereign plans to
raise USD500m through its first Eurobond sometime this year.
It plans to use the proceeds to repay the country's USD500m debt to
Russia, which it received in 2009 to help it through the financial
crisis. (Reporting by Davide Scigliuzzo in London and Hasmik Lazarian
in Yerevan; Editing by Sudip Roy)
http://www.reuters.com/article/2013/08/09/armenia-eurobond-idUSL6N0GA3IY20130809