Belarus could issue Russian ruble bond in next two months, likely to issue Eurobond RFP next year
The Government of Belarus could issue a Russian ruble-denominated bond in the next two months, according to a source at the country’s Ministry of Finance.
The Government of Belarus could issue a Russian ruble-denominated bond in the next two months, according to a source at the country’s Ministry of Finance.
The sovereign mandated last year Gazprombank, Sovcombank, Otkritie and the Eurasian Development Bank to conduct the issue.
Belarus will place RUB 30bn (nearly USD 463m) in Russia over the next two years, the source said.
Debtwire reported last year that a Russian ruble-denominated bond would likely materialise this year given volatility in the Russian markets at the time. The sovereign is also considering Chinese renminbi-denominated bonds.
Belarus will not look to issue in US dollars until 2020, as reported. Requests for proposals for a Eurobond will be sent next year, and will either be denominated in US dollars or euros, the source noted.
The sovereign last issued in Russian rubles in 2010, as reported. The country last issued a Eurobond in February last year, with a USD 600m 6.2% 2030 note.
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