Armenia to issue ‘Kardashian’ bond: keep up | beyondbrics

Armenia to issue ‘Kardashian’ bond: keep up | beyondbrics:

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What's the yield on that?

What’s the going rate for a Kardashian? A yield of 6.25 per cent, according to Armenia’s bond issue.

The “Kardashian”, as it has been dubbed by Standard Bank’s head of emerging markets research Timothy Ash, will be issued in Armenia’s first international sovereign debt sale. Named after Kim Kardashian, a US celebrity whose family (see left) is originally from the country, the dollar bond is the latest exotic asset to have attracted investors’ gaze.

It comes amid a flurry of bond issuances from countries taking advantage of sustained low yields. At the end of last week, $13.5bn of sovereign debt had been issued in September, according to JP Morgan, compared to $2.5bn for the whole of the previous month."

'via Blog this'