Ministry of Finance intends to place government bonds in Hong Kong or Singapore
11- 11.11.2010, 9:49
The Finance Minister of Belarus Andrei Kharkavets, the Economy Minister Mikalai Snapkou, the First Deputy Head of the National Bank Yury Alymau are sent on business trips to the Asian finance centers.
As “Interfax-West” transmits, the Chairman of the board of the National Bank of Belarus Piotr Prakapovich declared in June that the Belarusian authorities are planning to place bonds at the Asian finance market at the beginning of the next year. “At the beginning of the next year we will develop the Asian market of securities – it is one of the most efficient ones as regards to price and quantity, it is very capacious, but it is to be developed”, - the Head of the NBB said.
As it was informed, in October the government of Belarus commissioned the Ministry of Finance to accomplish the emission of government long-term bonds for the sum up to $1 bln with the life not less then 5 years in the fourth quarter of 2010 – 2011 and place them beyond the borders of the Republic.
It was confirmed in the Ministry of Finance the day before that the new emission of Eurobonds will be allocated before the end of this year.
The organizers of the issue are Deutsche Bank, BNP Paribas, The Royal Bank of Scotland and Sberbank RF, which in July –August organized the placement of the début issue of sovereign Eurobonds of Belarus for $1 bln.
In July, 2010 Belarus placed the début Eurobonds for $600 mln with the coupon rate 8,75% per annum and the maturity date is on August, 3, 2015. The Ministry of Finance placed Eurobonds for $400 mln additionally to the debut issue in August. The yield to maturity of the additionally placed securities made up 8,251%, which let decrease the average weighted yield of the whole issue for $1 bln up to 8,7%. Eurobonds underwent the listing procedure at Luxemburg Stock Exchange.
As it was informed, Belarus planed the placement of 2-year bonds with the volume of 7 bln Russian Rubles as for November, 25 at the MICEX SE. The book of investors’ applications for acquisition is open on Wednesday. Applications will be accepted till November, 23. The benchmark of the 1-st coupon rate makes up 8,5-9% per annum.
Foreign debt of the government of Belarus as of October, 1 makes up $9,559 bln, which has increased for the period Januarу-September by 21,1%.
