Belarus, China discuss financial cooperation

MINSK, 27 November (BelTA) – First Deputy Finance Minister of Belarus Vladimir Amarin has discussed cooperation in finance with Chinese partners, BelTA learnt from the Finance Ministry.

Vladimir Amarin took part in the conference “Belarusbank is a reliable partner in promoting Belarus-China relations” in Beijing, China. He presented a report on the situation in the fiscal and financial sector of Belarus and strategic development prospects of Belarusbank.

Belarusbank informed that the bank seeks to present its opportunities and find new partners in the East, and run new projects with China. A similar event had recently been held in Frankfurt. The placement of Belarusbank eurobonds on the Chinese market is not on the agenda yet.

On 27 November the Belarusian delegation led by Finance Minister Andrei Kharkovets has started a roadshow of Belarusian eurobonds in Hong Kong and will later present them in Singapore. A series of meetings with international investors will conclude on 30 November. The delegation includes Economy Minister of Belarus Nikolai Snopkov, First Deputy Chairman of the Board of the National Bank Yuri Alymov and Chairman of the Board of the Development Bank of Belarus Sergei Rumas.

The roadshow and the third issue of eurobonds are organized by VTB Capital plc (UK) and ZAO Sberbank KIB (Russia). In April 2012 the Dagong Global Credit Rating, a leading Chinese rating agency, assigned a BB- rating in foreign currency obligations to Belarus; outlook stable.

In July 2012 Ambassador of Belarus to China Mr Viktor Burya stated that Belarus planned to float sovereign bonds on Chinese stock exchanges. He said that the matter was well on its way, there were reliable companies, which were ready to provide assistance. In September Belarusian Finance Minister Mr Andrei Kharkovets said that Belarus planned to float $500-600 million worth of eurobonds in Europe or Asia in 2013. There were plans to hold the roadshow of Belarusian eurobonds in November. In November the Belarusian government confirmed plans to float eurobonds worth $500-600 million in early 2013.

Belarus floated its debut issue of eurobonds worth $600 million with the coupon rate of 8.75% per annum and the maturity period of five years on the European market in July 2010. In August Belarus floated $400 million worth of securities with the yield rate of 8.25% per annum. In January 2011 Belarus floated eurobonds worth $800 million with the coupon rate of 8.95% per annum and the maturity period of seven years. The deal was organized by Sberbank of Russia, BNP Paribas (France), RBS (UK), and Deutsche Bank (Germany).