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10 June 2019, 15:36

Belarus Development Bank might float eurobonds in national currency in 2020

LONDON, 10 June (BelTA) – The Development Bank of Belarus does not rule out floating another issue of eurobonds in Belarusian rubles in 2020, Chairman of the Board of the Development Bank Andrei Zhishkevich told BelTA on the sidelines of the Belarus Capital Markets Day which is running at London Stock Exchange.

“Of course, if such a possibility comes our way, we will make the next issue in Belarusian rubles. The Development Bank will continue this work. In 2020 we may issue bonds in Belarusian rubles,” Andrei Zhishkevich said.

When asked about the possible amount of the issue in 2020, the head of the bank said it can be around Br210 million, as large as the first issue. “This is the minimum. We will be happy if it turns out to be more,” he said.

This year the Development Bank floated eurobonds to the tune of Br210 million, with the maturity period of three years and the coupon rate of 12% per annum.

When asked which projects will get the money raised from the eurobonds, Andrei Zhishkevich said that there are no stringent parameters. “In fact, we want to shore up the resource base. We use this money, coupled with our own equity capital, to finance our customers,” he said.

The Development Bank of the Republic of Belarus was established in 2011 to finance government programs and events included into government programs. The bank takes part in export promotion program, and the small and medium-sized business development program.

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