Armenia, Azerbaijan dollar bonds drop after Baku launches military action
Published on: Monday 18 September 2023
International sovereign dollar bonds issued by Armenia and Azerbaijan suffered sharp falls on Tuesday after Baku launched military action in the Nagorno-Karabakh region, a step that could presage a new war in the volatile area. Armenia's bond maturing in 2029 dropped as much as 1.5 cents in the dollar to trade at 81.4 cents in the dollar, their lowest level since March, Tradeweb data showed. Azerbaijan's 2029 issue lost as much as 0.8 cents to trade at 93.0 cents, the lowest since November.
