New Eurobonds will be issued to repay previous borrowings

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June 19, 2017 12:41

As of June 19th, 2017, Belarus is planning to conduct a road show of Eurobonds nominated in USD in the US and Europe. Citi, Raiffeisen Bank International AG and the Development Bank of Belarus will be the organisers, the total issue volume could be up to USD 1 billion. Bonds maturity period would be between 5 and 10 years, taking into account the absence of problems with the settlement of external liabilities. The demand is expected to exceed the issue, the interest rate could be 5% to 6% per annum depending on the maturity, and some bonds could be bought out by organizations and trust funds located in Belarus. Most funds raised from the bond issue would be spent to repay Belarus’ Eurobonds with 7-year maturity period, which expires in January 2018. The remaining funds would be transferred to international reserves and used to repay other external liabilities.

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