ARMENIAN BONDS COULD BE NAMED KARDASHIAN

[Yervant1]

ARMENIAN BONDS COULD BE NAMED KARDASHIAN

14:55, 18 September, 2013

YEREVAN, SEPTEMBER 18, ARMENPRESS. Armenia has just wrapped up its road
show drumming up interest for its debut dollar denominated bond, which
is expected to hit the market this week or next, as reports Armenpress,
Serena Ruffoni and Katie Martin write in The Wall Street Journal blog.

When it lands, expect intense interest in its funding costs, especially
now that the easy money days that have helped other frontier issuers
borrow at knock-down rates are coming to an end.

Dollar bonds issued outside the US often have nicknames. Kangaroo
Bonds from Australia. Samurai Bonds from Japan.

And Armenia, among many things, is famous for it's apricots, which
are thought to have originated there, and, Los Angeles's finest,
the Kardashians. Apricot Bonds has a nice ring to it. But alas,
it's unlikely to catch on. Tim Ash, an emerging markets analyst
at Standard Bank, has already coined Kardashian Bonds in notes to
clients, quipping "that wrapper has gotta be worth a few basis points,
providing something of a bottom for this credit."

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