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The Republic of Armenia - Tender Offer - Launch

THE REPUBLIC OF ARMENIA ANNOUNCES AN INVITATION TO PURCHASE NOTES FOR CASH

18 SEPTEMBER 2023


Full announcement including disclaimers and offer restrictions available via Euronext


"The Republic of Armenia (the “Issuer” or “Armenia”) acting through the Ministry of Finance of Armenia (the “Ministry of Finance”) has today launched an invitation to holders (the “Noteholders”) to tender for purchase for cash up to U.S.$250,000,000 in aggregate principal amount (the “Maximum Acceptance Amount”) of the outstanding U.S.$500,000,000 7.150 per cent. Notes due 2025 (Reg S ISIN: XS1207654853 / Reg S Common Code: 120765485 / 144A ISIN: US042207AB67 / 144A CUSIP: 042207 AB6) (the “Notes”) issued by Armenia, subject to the offer and distribution restrictions below, and upon the terms and subject to the conditions set forth in a tender offer memorandum dated 18 September 2023 (as it may be amended or supplemented from time to time, the “Tender Offer Memorandum”), in accordance with the procedures described therein. The invitation to tender the Notes for purchase is referred to herein as the “Tender Offer”.


Tenders of the Notes pursuant to the Tender Offer will be irrevocable except in the limited circumstances described in the Tender Offer Memorandum.


The Tender Offer is made subject to the terms and conditions set forth in the Tender Offer Memorandum.


Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.


Summary of the Tender Offer"


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"Rationale for the Tender Offer


Armenia is carrying out the Tender Offer in order to take advantage of its robust liquidity position, provide liquidity to Noteholders and pro-actively reduce its outstanding indebtedness and interest expense."


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