Nalbandian: Racism and racial discrimination, xenophobia and intolerance grossly violate human dignity and give rise to tensions within and between societies. That is why the fight against them became one of the main priorities of our chairmanship.
by Arthur Yernjakyan
From Sept 2013 to Jan 2014, the yield of Armenia's Eurobonds dropped 6,250% to 5,800%, Armenian Finance Minister David Sargsyan said at a press conference on Wednesday.
He said that the first issue of Eurobonds in the republic was the most significant event in the financial life of the country in 2013. The minister explained the yield reduction in the secondary market by the investors' attitude to the issuer. "The investors' confidence in Armenia is growing and we can attract cheaper funds from international markets", the minister said. He added that the demand for the Eurobonds worth 700 mln USD issued for 7 years has grown for several times and amounted to $3 bln, which also demonstrates the growing confidence in Armenia. The main underwriters are Deutsche Bank AG, London Branch, HSBC Bank plc and J.P.Morgan Securities plc.
The minister added that due to the reduction in the Eurobond yield, the rates of government bonds were reduced by 4.5%. Thus, the yield of the 5-year government bonds has dropped from 14% to 9.99%, and the yield of the 20-year government bonds has dropped from 16.4% to 11.6%, he said. The decline in the bond rates will also lead to reduction in the bank rates of loans and deposits, he said.