Armenian security concerns and Rico Express bond issuance

Alen Simonyan, Secretary of the Security Council of Armenia, addressed concerns regarding the Russian 102nd Military Base located in Gyumri. While noting that some view the base as a threat to national security, Simonyan clarified that Yerevan has not officially raised the issue of withdrawing the base from Moscow.

The base, established in the 1940s, houses over 3,000 Russian service members and serves as a key military presence in the South Caucasus. Simonyan noted that the presence of the base has been a subject of contention due to past incidents involving Russian military personnel.

In financial news, the microfinance organization Rico Express successfully issued $10 million in three-year public bonds as part of a larger $100 million program. This marks the first instance in the Georgian capital market where a microfinance organization has placed securities in foreign currency. The issuance, managed by TBC Capital, features a 7.00% coupon rate and is intended to refinance short-term debt and support portfolio growth.