Belarus pays $38.6 mln on two Eurobonds in local currency

MINSK. Aug 25 (Interfax) - The Belarusian Finance Ministry has paid the equivalent of $38.6 million interest due on the Belarus-2026 and Belarus-2031 Eurobond issues in the national currency.

"The latest payment of interest on Republic of Belarus Eurobonds, Belarus-2026 and Belarus-2031, equivalent to a total of $38.6 million was made on August 24, 2022 in full [...] The payment was made out of funds in foreign currency by means of a transfer to a separate bank account opened with JSC ASB Belarusbank in Belarusian rubles," the ministry said.

It said the payment in Belarusian rubles on Eurobonds was made "amid the continuing inability of the Western settlement and clearing infrastructure to ensure that payments reach all holders of Eurobonds of the Republic of Belarus, as well as sanctions restrictions that apply to the National Bank as a financial agent of the government of the Republic of Belarus."

It said access to funds in Belarusian rubles to honor commitments was guaranteed for the payment agent specified by the issuance documentation, namely Citibank N.A. London branch. Citibank "currently performs the functions of registrar, financial, payment and transfer agent," the ministry said.