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17 Feb 2020

Belarusian Finance Ministry to be technically ready to float eurobonds soon

Belarusian Finance Ministry to be technically ready to float eurobonds soon
Maksim Yermolovich

MINSK, 17 February (BelTA) – The Belarusian Finance Ministry will become technically ready for floating eurobonds soon, BelTA learned from Finance Minister Maksim Yermolovich.

The official said: “Once we see a convenient window for floating eurobonds, we will surely inform everyone. Preparatory work is in progress now. The Finance Ministry will become technically ready for entering the market soon. Things will depend on the state of the market and on how the situation with China will unfold, on current changes in trade on the world financial market. If the situation is favorable from the point of view of affordability of investment resources (the demand for Belarusian securities on the world market is rather high all other conditions being equal), we will make up our mind and will move to float eurobonds. Our plans for the first quarter of the year are still in place.”

BelTA reported earlier that the Finance Ministry has already chosen the organizing banks and legal advisers for floating eurobonds. As for the volume of floatation, the Finance Ministry is guided by the figure specified by the state budget: government bonds to the tune of $1.350 billion are to be floated on foreign markets excluding planned borrowings on the Russian market. “We aim for $1-1.2 billion but everything will depend on the state of the market and the interest rates, on alternatives available for raising resources. We will make our decision on the volume depending on those factors,” Maksim Yermolovich was quoted as saying in mid-January.

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