Total borrowings of Belarus by placing Eurobonds reached one billion dollars. As Belarus' Finance Minister, Andrei Kharkovets, reported on August 10 "yesterday we placed $400M more at a rate of 8.75% per annum".
«The yield (of additional Eurobonds’ placement — Telegraf) till redemption is 8.25%. The average rate for one billion in general is equal to 8.7%», PRIME-TASS quotes the head of the Ministry of Finance.
As Telegraf reported earlier, interest on the bonds would be paid semi-annually on February 3 and August 3 of each year at a rate of 8.75% per annum. Thus, 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 were listed at Luxembourg Stock Exchange.
White & Case and Allen & Overy acted as legal advisors of the issue from Belarusian side and banks-organizers, respectively.
Leading organizers of Belarus’ Eurobonds issue were four foreign banks BNP Paribas, Deutsche Bank, The Royal Bank of Scotland and Sberbank of Russia. Belarusbank took part as co-organizer of the issue.
