Belarus to float securities on the Asian market in 2010-2011.


In late 2010 – early 2011 Belarus plans to float securities on the Asian market, Chairman of the Board of the National Bank of Belarus (NBRB) Piotr Prokopovich told media on 29 July.

 
“We have reached into European markets. In the near future we will reach into the Russian market. By the end of 2010 – at the beginning of 2011 we will reach into the Asian market. Thus, we will create the necessary instrument for external borrowing on international financial markets,” said Piotr Prokopovich.
 
In his words, the Asian market is most effective both in borrowing volumes and borrowing costs.
 
BelTA reported earlier that decree No 245 of 13 May 2010 enables the Council of Ministers of Belarus to float $2 billion worth of bonds with the maturity of at least five years in 2010-2011 abroad. The decree is meant to attract foreign investments into the Belarusian economy. According to Council of Ministers resolution No 758 of 20 May 2010, in 2010 Belarus will float up to $1 billion worth of long-term public bonds with the maturity period of at least five years.
 
26 July saw Belarus float $600 million worth of 8.75% coupon rate eurobonds with the maturity period of five years. Commenting it, Belarusian Finance Minister Andrei Kharkovets said: “The 8.75% coupon rate responds to the evaluation of the entire market. We do not dictate the policy, investors make evaluations. This is why we act on the basis of how investors evaluate us and how effective our cooperation with them has been”. Speaking about buyers of the eurobonds, the official said that very many investors showed an interest, including those from Europe, Asia, South and North Americas, Israel. “A very interesting spectrum of investors,” said Andrei Kharkovets.
 
According to Belarusian portal belta.by