Armenia hires banks for $500m-$1bn bond, won't waive sovereign immunity

The Republic of Armenia has hired Deutsche Bank, HSBC and JP Morgan to lead manage its debut dollar Eurobond. The request for proposals put the expected size of the note at $500m-$1bn, according to an origination official away from the bond. The sovereign also indicated to the banks pitching that it was unwilling to waive its sovereign immunity for the deal.