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Belarusian delegation holding Eurobond road show in Europe

A delegation led by Finance Minister Andrey Kharkavets is holding a road show for the Belarusian government's new Eurobond issue in European countries.

The delegation also includes, among other officials, Economy Minister Mikalay Snapkow and Yury Alymaw, deputy head of the National Bank of Belarus, spokespersons for the economy and finance ministries told BelaPAN.

The officials are expected to hold talks in Switzerland, Germany and the UK between February 4 and 7.

Speaking in September 2012, Mr. Kharkavets said that Belarus was exploring the possibility of selling $500 million to $600 million worth of government bonds in European and Asian markets in 2013.

Prime Minister Mikhail Myasnikovich confirmed on November 16 that the Belarusian government planned a new Eurobond issue at the beginning of 2013.

“We are set for the placement of a large Eurobond issue in the near future. This will take place at the beginning of next year and we will start preparations in December,” Mr. Myasnikovich told reporters in Minsk.

In the summer of 2010, Belarus issued a $1-billion Eurobond, placing $600 million with a coupon of 8.75 percent in July and $400 million at 8.25 percent in August.

In January 2011, the country raised $800 million via a new Eurobond sale, projecting initially to raise a total of $1 billion. The seven-year, dollar-denominated $800-million Eurobond was sold at a yield of 8.95 percent. BNP Paribas, Deutsche Bank, The Royal Bank of Scotland, and Sberbank acted as lead managers for the transaction.