Development Bank plans first issue of Eurobonds in 2015

Proposals analysed in Government

By Yevgeny Pimenov

Development Bank plans first issue of Eurobonds in 2015


The Chairman of the Development Bank’s Board, Sergei Rumas, has announced at a press conference dedicated to the results of the Belarusian-British Investment Forum, hosted by London, that: ‘The advancement of the Development Bank onto foreign capital markets, implementing projects to sell its debt instruments, is a possible way of raising long-term and comparatively inexpensive foreign currency funds. These are needed to finance major investment projects and to provide financial support for Belarusian exports’.

He notes that meetings with representatives of investment companies indicate that the political, social and economic stability of Belarus is fuelling higher demand for sovereign Eurobonds and, in the future, may do so for Development Bank Eurobonds. “We’ve begun related preparations but the date of Development Bank Eurobond release will depend on the market situation and the flotation of sovereign Eurobonds. We don’t want to compete with the securities issued by the Government,” stresses Mr. Rumas. Speaking about the sum to be borrowed, he noted that floating less than $500m is inexpedient.

Mr. Rumas notes that the Belarusian Government has invited investors to arrange deals within a shorter time period, as well as private deals. “The Government and the Finance Ministry are now analysing proposals and will soon take a decision,” he stresses.
Заметили ошибку? Пожалуйста, выделите её и нажмите Ctrl+Enter