Belarus plans to place bonds of BUR 7 billion worth in the Russian market in this November. This was announced by the Head of international financial relations and debt of the finance ministry of Belarus Andrei Smolski on October 21.
«A governmental decree will be signed in the coming days and, and the best forecasts let us hope to see an output up to RUB 15 billion in November, according to the presidential decree,» a spokesman of the Ministry of Finance said, BelTA informs.
In this case, Andrei Smolski noted that the Russian Savings Bank, being a Eurobond consultant, had offered to divide the issue into several parts. «As a result, it was decided to place bonds in two parts — RUB 7 billion and RUB 8 billion,» the officer of the financial institution added.
However, Andrei Smolski explained that the interest rate would depend on timing. «Also, it’s affected by a large number of corporate borrowers, currently planning to enter the market. Subsequent additional placement of bonds on the Russian market will depend on investor interest,» a spokesman said.
Speaking about the plans of the Ministry to place Eurobonds in 2011, Andrew Smolski noted that «if we’ve managed this year, so shall we the next, and so on.» «Let it be a small allocation to maintain the interest and the yield curve, which will be a guide for investors when corporate issuers to enter the market,» the representative of the Ministry of Finance summed up
