Finance Minister lauds Armenia’s international reputation after widespread demand for Eurobonds

Armenian finance minister Vahe Hovhannisyan said Friday that the $750 million Eurobonds issued by Armenia were highly demanded. 

The spread, which amounted to 2,86pp, was nearly on the same level compared to the previous issuance in 2021.

“It is noteworthy that as a result of some market changes the spread of countries like ours has significantly increased. Countries like ours have been issuing with higher rates. When we look at the market, compared to Uzbekistan, Romania, Turkiye, Georgia and Jordan, we have a rather low spread,” he said, lauding the successful issuance.

“The demand was nearly three times more than the volume we had issued. Nominally the interest rate is rather high because the rates have significantly increased in the market recently, but this also shows Armenia’s international reputation and interest by international investment companies. The geography of the investors was mostly from the UK and the US. Europe was 14%, the UK was 45%, the US was 34%, and the Middle East and North Africa was 5%,” Hovhannisyan said.

Armenia doesn’t plan to issue new Eurobonds in 2025 or 2026, Hovhannisyan said.