Belarus hopes to place eurobonds of about $1 billion dollars and the ruble bonds issue of RUB8 billion by the end of 2010."If the market is possible, we'll manage it this or next year," the First Deputy Finance Minister of Belarus Vladimir Amarin said at a press conference in Moscow.
External funding deficit has made Belarus provide issue of $2 billion sovereign Eurobonds for 2010-2011, five-year papers at $1 billion of which were placed in August. Belarus held a road show of U.S. Eurobonds in Asia last week. According to Amarin, it was a non-deal road show, which is not followed by papers’ placement, Korrespondent.net reports with reference to Reuters.
Belarus held a presentation of the ruble bond issue for Moscow investors on Monday, November 15. «We have set a target (8.5-9% coupon rate) … my feeling, if all goes well, this rate may get lower,» the deputy chairman of «Sberbank» Bella Zlatkis said to reporters after the presentation.
As one of the issue organizers, «Sberbank» could theoretically buy up to 20% of $7 billion-bond-issue in Belarus, but, according to Zlatkis, it is unlikely to happen. «We won’t simply be able to get 20%,» she said.
Belarus was reported to have opened a book of applications for placement of the debut issue bonds of RUB7 billion. It was held the day after the issues registration by the Russian regulator. Coupon rate was set at the level of 8.5-9%, organizers said.
Federal Financial Markets Service has registered two issues of bonds of RUB7 billion and RUB8 billion in Belarus, making them available to the public placement and circulation in Russia. «Alfa-Bank», «Gazprombank», «Sberbank» of Russia are the issue organizers.
