Armenia Hires International Banking Giants to Supervise $500M Bond Issue | Business | The Moscow Times:
"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 U.S. dollar-denominated eurobond, according to the country's finance ministry.
It plans to use the proceeds to repay the country's $500m debt to Russia, which it received in 2009 to help it through the financial crisis.
"The government approved the 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 planned to raise $500 million through its first eurobond sometime this year.
(Reuters)"
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