In its most expensive ever borrowing operation reflecting the fallout from an economic crisis in Russia, the Armenian government has issued its second Eurobond worth $500 million at a yield of 7.5 percent.
The 10-year dollar bonds were sold in international financial markets through Deutsche Bank, HSBC and JP Morgan late on Thursday.
Neither Prime Minister Hovik Abrahamian's office nor the Armenian Finance Ministry issued any statements on the development on Friday. The ministry promised to comment on Monday.
Abrahamian's cabinet approved and announced the upcoming Eurobond issue on January 30. It cited the need to finance Armenia's budget deficit and "neutralize" the Russian recession's spillover effects on the Armenian economy. Deputy Prime Minister Vache Gabrielian said it is now "extremely important to ensure inflows of hard currency" into the country.
Armenian News
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