Armenia lays groundwork for dollar bond sale

Armenia is planning to meet investors in the U.S. and London about issuing its second dollar bond, one of the banks arranging the roadshow said on Thursday, the Wall Street Journal reports.

Deutsche Bank, HSBC, and JP Morgan are the banks hired to run the meetings, which are due to start March 16.

Armenia last issued dollar bonds in September 2013, borrowing $700 million at a yield of 6.25% for seven years.

Armenia is likely to raise $500 million for between seven and 10 years from the new bond sale, which could be issued as soon as Thursday next week.

In addition to the new deal, Armenia is offering to buy back up to $200 million of its previous dollar bond issue. It will pay face value for the bonds, which are currently trading at around 98 cents on the dollar.

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