Belarusbank plans to issue half a billion of Eurobonds this year and float them in the western market. This was announced by Bank Board Chairman Nadezhda Ermakova at the General Meeting of Belarusbank Shareholders on March 25.
«This year we’re planning to produce and float Eurobonds amounting to $500 million up to 3 years in the international market,» BelTA quotes Nadezhda Ermakova.
There are currently no favorable conditions in international markets for carrying out such an operation. But we hope that this situation will not last the whole year,» said Nadezhda Ermakova, noting that the Bank did not intend to raise resources at high rates.
Speaking about Belarusbank international cooperation with foreign-bank financial institutions, Nadezhda Ermakova noted its successful development. «Last year the Belarusian bank entered into a loan agreement with banks in Switzerland, Germany, Poland and France. 79 loan agreements of $529 million in equivalent have been signed to finance investment projects of Belarusian enterprises in 2010. The largest of them — the purchase of freight locomotives for the Belarusian Railways, the construction of the second building of «Victoria» hotel, the purchase of technological equipment for the Mazyr woodworking company,» reminded Nadezhda Ermakova.
Credit lines for interbank transactions, installed at Belarusbank by foreign banks, have increased over the past year to $1.38 billion in the equivalent, noted the chairman of the bank.
In general, the proportion of Belarusbank in servicing foreign trade of Belarus has increased in 1.8 times for five years and has reached 28% in the beginning of 2011.
