Belarus completed its debut placement of Eurobonds cost 600 million dollars with a coupon rate of 8.75% and redemption in 2015. It was reported in Finance Ministry of Belarus. "Bonds are placed outside the United States under Regulation S under the U.S. law "On Securities" of 1933", reported in the Ministry of Finance.
In the Ministry of Finance they noted that Eurobonds issue drew attention of a wide range of investors from different regions of the world and was oversubscribed in three times.
Applications for participation in the placement were obtained from 145 investors, with total amount of 1.5 billion.
Interest on the bonds will be paid semi-annually on February 3 and August 3 of each year at a rate of 8.75% per annum. The first interest payment will be made on February 3, 2011. Bonds’ redemption is scheduled on August 3, 2015. Bonds ratings are similar to sovereign ratings of the Republic of Belarus — B1 (Moody’s) / B + (S&P).
Eurobonds are listed at Luxembourg Stock Exchange. Moreover, in Finance Ministry they told that Belarus was to receive funds from securities placement the day before, on August 3, 2010.
Leading organizers of Belarus’ Eurobonds issue were BNP Paribas, Deutsche Bank, The Royal Bank of Scotland and Sberbank of Russia. Belarusbank took part as co-organizer of the issue.
White & Case and Allen & Overy acted as legal advisors of the issue from Belarusian side and banks-organizers, respectively.