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Belarusian Finance Ministry considering floating $1-1.2bn worth of eurobonds in Q1 2020

Maksim Yermolovich. An archive photo

MINSK, 14 January (BelTA) – The Belarusian Finance Ministry will be technically ready to float eurobonds in the first quarter of the year, BelTA learned from Belarusian Finance Minister Maksim Yermolovich on 14 January.

The official said: “Everything proceeds on schedule. We expect we will be able to float eurobonds soon. However, we will become technically ready to float them in Q1 2020. We will have to evaluate the advisability of floating them depending on the state of the market.”

“Everything will depend on the international situation, on rates on the market. Respectively we will make the decision on floating the eurobonds or not bearing it in mind. But we should make preparations on a tight schedule in order to achieve technical readiness,” the Belarusian finance minister added.

The Finance Ministry has already chosen the banks that will organize the issue and the legal advisors.

As for the volume of the issue, the Finance Ministry bears in mind the volume of government bonds to be floated on foreign markets according to the state budget – $1.350 billion excluding planned borrowings on the Russian market. “We bear in mind $1-1.2 billion but everything will depend on the state of the market and the rates, on alternative ways of raising money. We will decide on the volume bearing these factors in mind,” Maksim Yermolovich said.

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