March 12, 2015 / 10:17 AM / 2 years ago

Armenia mandates banks for US dollar bond

LONDON, March 12 (IFR) - The Republic of Armenia has mandated Deutsche Bank, HSBC and JP Morgan to arrange investor meetings for a US dollar-denominated bond, according to a lead.

The meetings will take place in the US and London, beginning from March 16 for a potential Reg S/144A benchmark-sized bond.

Armenia has also announced a tender offer to buy back up to US$200m of its outstanding US$700m bonds due September 2020.

Bondholders have until March 18 to sell their bonds back to the sovereign under the offer.

Armenia is rated Ba3 with a negative outlook by Moody's and B+ with a stable outlook by Fitch. (Reporting By Michael Turner; edting by Alex Chambers)

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