Belarusian Finance Ministry redeems 7 bln rubles worth of 2-yr bonds in Russia
MINSK. Dec 20 (Interfax) - The Belarusian Finance Ministry redeemed on December 20 its debut issue of state bonds placed in the Russian Federation in 2010 to the tune of 7 billion Russian rubles, a statement issued by the ministry says.
Redemption took place in tandem with the payment of 151.830 million Russian rubles in coupon yield on the eighth and final coupon.
"So, this was the redemption of the Republic of Belarus's first international bonds," the statement says.
The Finance Ministry placed the first-series two-year bonds on the MICEX with fixed coupon yield of 8.7% per annum on December 23, 2010. Each bond had face value of 1,000 rubles and each coupon period paid 21.69 rubles per bond.
The placement organizers were Alfa-Bank , Sberbank of Russia , and Gazprombank . The proceeds from the placement of the state securities in Russia were put into paying off $200 million in bridge financing that Russian banks had extended to the Finance Ministry for thirteen months at the end of December 2009.