Armenia joins gaggle of early refi deals

Armenia abobe 230x150
By Lewis McLellan
11 Sep 2019

Armenia is the latest EM borrower to take advantage of rock bottom rates with a tender offer and new bond. The sovereign will tender a 2020 bond, financing the operation with a new Eurobond.

Citi and JP Morgan received the mandate. They will arrange meetings in the US and London to promote a Eurobond with a 10 to 15 year maturity.

The issuer will also tender its $700m 2020 bond. The bond is a seven year, priced to yield ...

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