Roadshow of Belarusian eurobonds in Singapore, Hong Kong possible

MINSK, 23 November (BelTA) – Reports about a possible presentation (aka a roadshow) of Belarusian eurobonds in Singapore and Hong Kong are close to the truth, representatives of the Belarusian Finance Ministry told BelTA.

In line with the relevant instruction of the Prime Minister of Belarus a team will be dispatched to Singapore and the special administrative district Hong Kong (the People’s Republic of China). The source said a representative of the Finance Ministry is expected to be on the team.

Experts say that Singapore and Hong Kong are leading financial centers in Asia and the world.

In 2013 Belarus will have to spend over $3 billion on paying out and servicing its external debts or nearly twice as much as in 2012. The Belarusian government intends to get nearly half of the sum refinanced. Eurobonds have been mentioned among the instruments the government will use to achieve that.

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.

According to reports from financial circles and mass media, Belarus may also hold a presentation of its eurobonds in the USA. Sberbank of Russia and VTB Bank may be the ones to organize the third issue of Belarusian eurobonds.

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).