Belarus floats another $400m worth of eurobonds


Belarus has floated another $400 million worth of eurobonds. It was announced by First Deputy Finance Minister of Belarus Vladimir Amarin. 

“We additionally placed another $400 million worth of eurobonds,” he said. Vladimir Amarin reminded that the first 8.75% coupon rate eurobonds will be redeemed in 2015. 

He informed that the new eurobonds were floated under an 8.25% annual interest. 

On 26 July, Belarus’ made a debut floatation of $600 million worth of 8.75% coupon rate eurobonds. The floatation attracted many investors from various parts of the globe and was countersigned three times. 145 investors submitted applications for participating in the floatation, with the total sum as large as $1.5 billion.

8.75% annual interest will be paid out on a semi-annual basis on 3 February and 3 August every year. The first payment will be carried out on 3 February 2011. The eurobonds are to be redeemed on 3 August 2015.

The eurobonds’ ratings of - B1 (Moody’s) and B+ (Standard & Poor's) are as high as the sovereign ratings of Belarus.

The eurobonds were listed by the Luxembourg Stock Exchange.

The key organizers of the floatation are BNP Paribas, Deutsche Bank, The Royal Bank of Scotland and Sberbank of Russia. Belarusbank is a co-organizer of the floatation. The legal advisers for Belarus and the organizing banks are the companies White & Case and Allen & Overy respectively.

According to belarusian portal TUT.BY