Belarus to Place its Bonds in the U.S. and Asia


Belarus plans to test the U.S. and Asian debt markets, as well as selling ruble-denominated bonds. "We will undoubtedly enter the Asian and the American markets," Finance Minister Andrei Kharkovets said in an interview on October 15 in Moscow, declining to comment on the timing of possible sales. 

Belarus plans to sell Rr15 billion ($497 million) of bonds in November, which, according to Andrei Kharkovets, is "a logical step." "We use the ruble in common trade, so it's a logical step for us. In addition, it is necessary to open this platform for everyone. In this regard, the debut issue is of interest for us and for the Russians," Minister of Finance noted, Bloomberg.

According to Andrei Kharkovets, Belarus may also borrow in other currencies. "We certainly will look at the market, estimating it from the standpoint of our economy, and we will issue securities in the currency that will be optimal for us in terms of efficiency of the transaction," the minister said. "I wouldn't rush. Since we've entered the market, we should test all the platforms," Andrei Kharkovets added.

"We are absolutely satisfied with the way our papers are being traded today. We will work further to secure reduction in the price," Minister of Finance emphasized.

According to Andrei Kharkovets, in 2009 Belarus borrowed $230 million via bridge loan from a group of Russian banks because the country "had no time to sell bonds." At the same time, as the Minister noted, Belarus had no plans to borrow more from Russian banks.

According to www.telegraf.by