Belarus presents eurobonds in Europe
MINSK, 4 February (BelTA) – Belarus has launched a road show of eurobonds in Europe, BelTA learnt from the Development Bank of the Republic of Belarus.
A Belarusian delegation led by Finance Minister Andrei Kharkovets left for Europe to take part in the road show of the third issue of eurobonds. The delegation includes Economy Minister Nikolai Snopkov, First Deputy Chairman of the Board of the National Bank Yuri Alymov and Chairman of the Board of the Development Bank Sergei Rumas.
The presentation is to take place on 4-7 February. On 4 February the Belarusian securities will be presented in Switzerland, on 5 February in Germany (Munich) and on 6-7 February in the United Kingdom (London). The British company VTB Capital plc and the Russian company ZAO Sberbank KIB are the organizers of the roadshow and the issue of Belarusian eurobonds.
On 27-30 November the Belarusian delegation led by Finance Minister Andrei Kharkovets held a road show of eurobonds in Hong Kong and Singapore.
In September Andrei Kharkovets declared plans to float at least $500-600 million worth of eurobonds in 2013. European and Asian stock exchanges were named as possible venues for the floatation. The exact amount of eurobonds will depend on Belarus’ need for resources and on investors’ proposals. In November Belarus confirmed its plans to float eurobonds in early 2013.
By floating eurobonds on external markets Belarus plans to refinance part of the public debt payments the country has to pay in 2013. Belarus will have to spend over $3 billion to repay and service public debts in 2013, up almost twice compared to 2012. The Belarusian government expects to refinance almost half of the sum using the eurobonds, loans of the EurAsEC Anti-Crisis Fund and other sources.
elarus 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 extra $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).