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29 Apr 2019

Strong interest of UK, U.S. investors in maiden issue of eurobonds of Belarus’ Development Bank

Strong interest of UK, U.S. investors in maiden issue of eurobonds of Belarus’ Development Bank

MINSK, 29 April (BelTA) – The Development Bank of the Republic of Belarus (DBRB) has floated a maiden issue of eurobonds to the tune of $500 million, BelTA has learned.

With the maturity period of five years and the coupon rate of 6.75% per annum, the maiden issue will be offered to the global market via the Irish Stock Exchange.

Interest of investors in the Development Bank’s eurobonds peaked at over $1.5 billion in the course of compiling the bid book.

The resulting breakdown of investors per region includes bidders from the USA (33% of the issue’s volume), the UK (33%), continental Europe (26%), Asia and other regions (8%). The pool of investors includes management companies, investment funds, insurance companies, pension funds, and banks.

DBRB Chairman of the Board Andrei Zhishkevich said: “The implementation of this project was a truly historic event for the Development Bank of the Republic of Belarus. The synergy of all the parties involved in this project will allow the bank to channel a substantial volume of long-term financial resources into the country’s economy on attractive terms.”

The public joint-stock company (OAO) Development Bank of the Republic of Belarus was established in 2011 by the Council of Ministers and the National Bank of the Republic of Belarus (NBRB). The bank’s main goals include the financing of government programs and the implementation of socially important investment projects.

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