19 Jan 2011 19:19

Belarus places $800 mln in 7-yr bonds at 8.95%

MINSK. Jan 19 (Interfax) - Belarus has placed $800 million in seven-year Eurobonds at 8.95% pa, the Belarusian Finance Ministry said in a statement.

"The republic of Belarus has closed the placement of $800 million in Eurobonds at 8.95% and maturing in 2018," the ministry said.

Sources said earlier that the bonds might be placed on January 19 and that yield guidance was 8.95%-9%.

Belarus this week hired BNP Paribas, Deutsche Bank, Royal Bank of Scotland and Sberbank to arrange a series of conference calls for fixed-income investors and planned to decide whether to place or not depending on the results of those calls.

The Presidium of the Council of Ministers early December 2010 authorized the Finance Ministry to place $500 million in seven-year bonds on the Asian markets, but this was held up by a downturn in investor activity due to the approaching Christmas holidays.

Belarus sold $1 billion in debut Eurobonds in July-August 2010.