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26 June 2017, 13:27

Details of latest sale of Belarusian eurobonds revealed

MINSK, 26 June (BelTA) – American investors bought 60% of the latest batch of eurobonds Belarus has sold while British investors bought 25%, BelTA learned from First Deputy Prime Minister of Belarus Vasily Matyushevsky on 26 June.

According to the source, the fact that Belarus has sold $1.4 billion worth of eurobonds will not affect the government's plans to raise funds. “This year we don't intend to borrow more than we declared initially. These borrowing plans are still in effect,” stressed Vasily Matyushevsky.

The first deputy prime minister of Belarus also explained that negotiations with the IMF are still in progress. “We are implementing some of the provisions of the program without waiting for the negotiations to finish,” he said.

BelTA reported earlier that Belarus recently sold eurobonds worth a total of $1.4 billion in two tranches with the interest rates of 7.125% and 7.625%.

In June 2017 Belarus arranged a road show of the eurobonds in the USA and Europe. It was organized by Citi, Raiffeisen Bank International AG, and the Development Bank of the Republic of Belarus (DBRB). Presentations and meetings with potential investors were arranged as part of the road show.

Belarus intends to refinance $800 million worth of eurobonds, which are supposed to be redeemed in early January 2018, and continues working on floating a new emission of eurobonds with this goal in mind. In 2011 Belarus floated $800 million worth of eurobonds with the interest rate of 8.95% and the redemption date of 26 January 2018.

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