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16 Feb 2018

Belarus’ Finance Ministry does not rule out placing bonds in Asian markets

MINSK, 16 February (BelTA) – Belarus’ Finance Ministry does not rule out placing bonds in the Asian markets, Belarus’ Deputy Finance Minister Yuri Seliverstov told the media before the board session of the ministry, BelTA has learned.

“We are not giving up on the idea to place bonds in the Asian markets. Given the amounts of repayments of our debt, we need to work on attracting resources. We worked on this last year. If we manage to place bonds this year, it will be good,” the deputy minister said.

Yuri Seliverstov noted that the Chinese domestic market is interesting for Belarus. “But their procedures are somewhat different from the eurobond placement procedures,” he explained.

According to the deputy minister, Belarus launched a roadshow for eurobonds in the United States and Europe on 15 February. “Our representatives are currently working in the United States and then will travel to London. According to our strategy, it is early to name the terms [for floating eurobonds]. Keeping in mind the fact that we held a number of investor meetings in late 2017, we believe today is the most favorable time to float eurobonds,” he said.

On 15 February the Finance Ministry started a series of investor meetings in the United States and Europe. Citi and Raiffeisen Bank International AG have been selected as managers, with the Development Bank of the Republic of Belarus to be a co-manager.

The new issues of the eurobonds denominated in U.S. dollars will mature in 10-12 years.

As it was reported earlier, Belarus plans to issue eurobonds worth $600 million in the first half of 2018.

In 2017 Belarus floated eurobonds in two tranches with the interest rate of 7.125% and 7.625% respectively.


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