Belarus may enter Eurobond market in a week


According to the decree №245 on May 13, 2010 Council of Ministers of Belarus has a right to issue not less than 5-year bonds in amount of $2bn in 2010-11 and placing them outside the country.

The decree is passed in order to attract foreign investment in Republic of Belarus.

Government is permitted to approve offering prospectus of each emission limited by the total amount of $2bn and agreements and other aspects on emission, placement, circulation and paying of these bonds.

In accordance with this document foreign organizers of the Belarusian bonds placement are exempted from income tax. This tax won’t also be charged from profits gained of services on emission, placement, circulation and paying off bonds. Commission payments, remuneration and other expenditures  related to emission, placement, circulation and paying off bonds will be made by means of republican budget for foreign state debt financing.

There is a rule in the decree about “Republic of Belarus renunciation(if necessary) of its immunities in agreements and other documents on emission, placement, circulation and paying off bonds in arguments related to emission, placement, circulation and paying off bonds ”.

According to the Council of Ministers’ decree №758 from May 20, 2010 Republic of Belarus will issue in 2010 state long-term bonds in the amount of $1bn with life not less than 5 years. 

According to belarusian portal TUT.BY