Belarus received funds from Eurobonds placement in the amount of more than 592 million dollars. It was reported in the information department of the National Bank of Belarus. According to the Ministry of Finance of Belarus, Eurobonds issue drew attention of a wide range of investors from different regions of the world and was oversubscribed in three times.
Applications for participation in the placement were obtained from 145 investors, with total amount of 1.5 billion. Eurobonds were listed at Luxembourg Stock Exchange.
As Telegraph already reported, in Finance Ministry they noted that interest on the bonds would be paid semi-annually on February 3 and August 3 of each year at a rate of 8.75% per annum. Thus, the first interest payment will be made on February 3, 2011. Bonds’ redemption is scheduled on August 3, 2015.
White & Case and Allen & Overy acted as legal advisors of the issue from Belarusian side and banks-organizers, respectively.
Leading organizers of Belarus’ Eurobonds issue were four foreign banks BNP Paribas, Deutsche Bank, The Royal Bank of Scotland and Sberbank of Russia. Belarusbank took part as co-organizer of the issue.
