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10 May 2019

Belarus’ Development Bank confirms floating eurobonds in Belarusian rubles

Belarus’ Development Bank confirms floating eurobonds in Belarusian rubles

MINSK, 10 May (BelTA) – The Development Bank of the Republic of Belarus (DBRB) has confirmed the floatation of eurobonds in Belarusian rubles with the maturity period of three years, BelTA has learned.

The bank will float Br210 million worth of eurobonds with the maturity period of three years and the coupon rate of 12% per annum at 100% of the face value via the global market of the Irish Stock Exchange.

The final breakdown of investors per region includes bidders from the USA and the UK (66% of the issue’s volume), a number of Northern and Western Europe countries (34%). The pool of investors includes management companies, investment funds, insurance companies, pension funds, and banks.

DBRB Chairman of the Board Andrei Zhishkevich believes that the maiden floatation of eurobonds nominated in the national currency will predetermine a new movement trajectory for the entire national financial market. “With its project the Development Bank has formed an open market indicative for long-term funding in Belarusian rubles. It will have appreciable influence on expectations, forecasts, and actions of other participants of the national market,” he said. The fundamental idea behind this deal is to demonstrate the degree of external trust in the national currency, find new contact points of Belarusian banks and companies with international investors and creditors, and increase the overall level of Belarus’ investment appeal in the international financial scene.

 

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