Belarus may place Eurobonds in June-July
MINSK. June 10 (Interfax) - Belarus may place a debut issue of Eurobonds in June-July 2010, Finance Minister Andrei Kharkovets told journalists on Thursday, noting that the market remains highly volatile.
The Eurobonds might be placed on the global market or on the Russian financial market, he said. "We are currently assessing the competitiveness of the Russian market compared with the global market. The trend there [in Russia] is positive," Kharkovets said.
Ultimately, Belarus will choose the market that offers the cheapest borrowing terms, he said. One important result of the Eurobond placement will be to create a benchmark yield for corporate issuers.
Sberbank Russia will organize the placement if it is held on the Russia market. The placement volume might be the Russian ruble equivalent of about $500 million. "We reached agreement with Sberbank to be the organizer of a placement on the Russian market. They might create a pool," he said.
It was reported earlier that Belarus plans to issue up to $1 billion in Eurobonds in 2010. All technical and legal preparations for the placement have been completed. The Finance Ministry has said repeatedly it can place the bonds within two-three weeks if market conditions are favorable.
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