YEREVAN. – The Government of Armenia selected the American Cleary Gottlieb Steen & Hamilton LLC law firm as the international legal adviser for the issuance of Armenian Eurobonds.  

To choose this adviser, top five law firms in the legal market were selected and they were sent a request to submit a proposal, the Armenian Government official website informs.

Four of these five law firms submitted a respective proposal and, as a result of talks, Cleary Gottlieb Steen & Hamilton LLC was selected.  

To note, the aforesaid law firm was established in New York in 1946, and it employs 1,200 attorneys from fifty countries.

In all likelihood, this year Armenia will issue bonds worth $500 million, with a ten-year maturity. The funds will be used to repay the Russian debt.