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ARMENIA PAYS RUSSIAN LOAN OFF AHEAD OF TIME
Vestnik Kavkaza, Russia
Oct 3 2013
3 October 2013 - 2:41pm Armenian Finance Minister David Sarkisyan
told the government that Armenia has started paying off the Russian
loan ahead of time, RIA Novosti reports.
Russia granted Armenia a 15-year loan worth $500 million in 2009. It
was granted at the LIBOR + 3% rate and an annual rate of 4% with a
4-year beneficiary period.
Armenia received a tranche on June 12, 2009. About $492 million will
be spent to boost the economy.
Armenia will pay the debt off through eurobonds released on September
19. The emissions released total $700 million with a repayment period
of 7 years, income 6%. Deutsche Bank AG, London Branch, HSBC Bank plc
and J.P.Morgan Securities plc. are the main undewriters. The demand
for dollar bonds exceeded $3 billion in Armenia.
Prime Minister Tigran Sargsyan said on September 27 that the remaining
$460 million will be paid to Russia.
Armenia plans to spend $44 million annually to cover the governmental
debt.
From: Emil Lazarian | Ararat NewsPress
Vestnik Kavkaza, Russia
Oct 3 2013
3 October 2013 - 2:41pm Armenian Finance Minister David Sarkisyan
told the government that Armenia has started paying off the Russian
loan ahead of time, RIA Novosti reports.
Russia granted Armenia a 15-year loan worth $500 million in 2009. It
was granted at the LIBOR + 3% rate and an annual rate of 4% with a
4-year beneficiary period.
Armenia received a tranche on June 12, 2009. About $492 million will
be spent to boost the economy.
Armenia will pay the debt off through eurobonds released on September
19. The emissions released total $700 million with a repayment period
of 7 years, income 6%. Deutsche Bank AG, London Branch, HSBC Bank plc
and J.P.Morgan Securities plc. are the main undewriters. The demand
for dollar bonds exceeded $3 billion in Armenia.
Prime Minister Tigran Sargsyan said on September 27 that the remaining
$460 million will be paid to Russia.
Armenia plans to spend $44 million annually to cover the governmental
debt.
From: Emil Lazarian | Ararat NewsPress