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25 June 2020, 12:05

Belarus raises $1.25bn from eurobond issue

MINSK, 25 June (BelTA) – Money raised from two issues of eurobonds (a total of $1.25 billion) was transferred to the budget on 24 June, BelTA learned from the Belarusian Finance Ministry.

According to the Finance Ministry, Belarus issued bonds worth $500 million with the maturity period of 5.7 years (to be redeemed in February 2026) and the interest rate at 5.875%; they will be quoted at 98.799 (98.799% of their par value). Belarus also issued bonds worth $750 million with the maturity period of 10.7 years (to be redeemed in February 2031) and the interest rate at 6.378%; they will be quoted at 100.

The emission was arranged by Citigroup Global Markets Limited, Raiffeisen Bank International AG, Société Générale and Renaissance Securities (Cyprus) Limited.

These bonds were assigned RegS and 144A securities identification codes. They were admitted to listing on the London Stock Exchange.

The final book for Belarus two issues exceeded $4.8 billion on 17 June with over 170 accounts putting in orders.

“Significant demand with a four-fold oversubscription shows the confidence of the investor community in Belarus' economic development prospects and the country's debt strategy,” the Finance Ministry noted.

Major investors were from the United States and the UK.

About 97% of the bonds was sold to large management and investment companies.

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