Belarusian Finance Ministry sells $60m worth of forex bonds to legal person

      The Belarusian Finance Ministry has sold $60 million worth of foreign currency bonds to a legal person, which is a resident of the country.
      The bonds were floated on 21 December to be redeemed on 21 December 2016. The face value of a bond is $100,000, with the coupon rate at 7% per annum.
      The bonds were floated to continue the work to attract temporarily available money of juridical persons.
In late November 2012 the Belarus government allowed reselling government bonds nominated in foreign currency on the home market. Experts said that allowing government bonds to be traded on the aftermarket will enhance the government’s borrowing ability. It will lead to a considerable increase in the liquidity of the market foreign currency government bonds and the arrival of non-resident investors.
Apart from floating bonds on the domestic market the Belarusian Finance Ministry is busy to float eurobonds on foreign markets. A roadshow of Belarusian eurobonds has been held in Singapore and Hong Kong. A presentation in Europe may be held in January 2013. There are plans to float at least $500-600 million worth of eurobonds as early as the beginning of the year 2013.