Finance Ministry of Belarus confirms $800m Eurobond sale

The Finance Ministry of Belarus has confirmed an $800m Eurobond sale. The sovereign priced an $800m Eurobond due 2018 and paying 8.95%, according to the Ministry's announcement. BNP Paribas, Deutsche Bank, The Royal Bank of Scotland and Sberbank acted as lead arrangers on the deal. White & Case acted as a legal advisor on behalf of Belarus and Allen & Overy Magisters represented the arranger group as a legal advisor.

In early December the Council of Ministers of Belarus charged the Finance Ministry with a $500m 7-year Eurobond issue targeting Asian markets, but the deal was postponed due to shrinking investor activity on the eve of the coming holidays.

In July-August 2010 Belarus sold $1bn in a 5-year debut Eurobond paying 8.7%. The transaction was arranged by BNP Paribas, Deutsche Bank, Royal Bank of Scotland and Sberbank.

Belarus may tap international markets in 2011 in order to raise $2bn via a Eurobond in line with the President's decree.


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