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25 August 2022, 15:26

Belarus pays out interest on two issues of eurobonds

MINSK, 25 August (BelTA) – Belarus has paid out interest on two more issues of eurobonds, namely Belarus 2026 and Belarus 2031, the press service of the Belarusian Finance Ministry told BelTA.

A regular payment of the interest yield on the eurobonds Belarus 2026 and Belarus 2031 worth the total equivalent of $38.6 million was made in full on 24 August in accordance with the previously adopted temporary procedure for honoring external state debt commitments. The Finance Ministry noted that the payment was carried out amid the continued inability of the Western clearing and settlement infrastructure to deliver payments to all the holders of Belarusian eurobonds and amid the sanctions-fuelled restrictions, which are in effect against the National Bank as the fiscal agent of the Belarusian government.

The payment was made at the expense of foreign currency assets by transferring money to a dedicated bank account, which had been opened at OAO ASB Belarusbank in Belarusian rubles. The Finance Ministry added that Citibank N.A. London Branch had been granted access to the money since the bank is the paying agent according to the documentation of the eurobond issues. The bank acts as the registrar, fiscal agent, paying agent, and transfer agent at present.

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