19.04.2012
Belarus may issue new eurobonds by end of 2012
MINSK, 19 April (BelTA) – Belarus may start issuing new eurobonds by the end of 2012 or in early 2013, First Deputy Finance Minister of Belarus Vladimir Amarin told media on 19 April.
“We are constantly working on it, monitoring the market. It may be more feasible in H2 2012. At the end of the year or early next year it may be possible to determine some parameters of entering the market,” said the official. However, the move would need acceptable terms. Belarus will have yet to decide on whether eurobonds should be issued at all. The official said: “If it is necessary, everything can be done fast. Besides, we have already done it in the past. We’ve carried out two floatations of eurobonds, we know the instrument, it will be simpler to work with it”.
Vladimir Amarin said Belarus’ need for external funding had been calculated. “As much as $880 million, two tranches from the EurAsEC Anticrisis Fund,” he said. According to the source, the country’s foreign debt is balanced while there is also the gross domestic debt – the debt of other branches of the economy, banks of the real sector.
Belarus honors its obligations as far as foreign debt is concerned. There are plans to redeem Russian eurobonds in December, as much as RUB7 billion. All the obligations to service Belarus’ debts will be honored. Certain reserves are being accumulated to do that.
Vladimir Amarin said Belarus is interested in redeeming the securities that had been issued. It will deliver a positive signal for the market “that we have fulfilled our obligations and have redeemed bonds in full”.
“We are constantly working on it, monitoring the market. It may be more feasible in H2 2012. At the end of the year or early next year it may be possible to determine some parameters of entering the market,” said the official. However, the move would need acceptable terms. Belarus will have yet to decide on whether eurobonds should be issued at all. The official said: “If it is necessary, everything can be done fast. Besides, we have already done it in the past. We’ve carried out two floatations of eurobonds, we know the instrument, it will be simpler to work with it”.
Vladimir Amarin said Belarus’ need for external funding had been calculated. “As much as $880 million, two tranches from the EurAsEC Anticrisis Fund,” he said. According to the source, the country’s foreign debt is balanced while there is also the gross domestic debt – the debt of other branches of the economy, banks of the real sector.
Belarus honors its obligations as far as foreign debt is concerned. There are plans to redeem Russian eurobonds in December, as much as RUB7 billion. All the obligations to service Belarus’ debts will be honored. Certain reserves are being accumulated to do that.
Vladimir Amarin said Belarus is interested in redeeming the securities that had been issued. It will deliver a positive signal for the market “that we have fulfilled our obligations and have redeemed bonds in full”.