Belarus has hired two banks to negotiate dual-tranche U.S. dollar benchmark bonds with investors, Reuters reported on 14 June.
“The Republic of Belarus has mandated Citigroup and Raiffeisen Bank International for fixed income investor meetings in the US and Europe,” the news agency wrote.
The so-called road show will take place next week.
In 2016, the Minister of Finance of Belarus Vladimir Amarin stated that Belarus plans to attract up to $1 billion from eurobonds.
According to Reuters, two tranches are expected – comprising five-year and 10-year bonds.
“One team representing the issuer will visit London, Zurich and Frankfurt, and a second delegation will meet investors in Los Angeles, New York and Boston,” Reuters said.
Belarus is returning to the international bond market after a long pause.
On January 2011, Belarus floated $800 million worth of eurobonds with the coupon rate of 8.95% per annum, the only circulating issue of eurobonds by Belarus.
In July 2015, the Ministry of Finance repaid $1 billion for the debut eurobonds floated in 2010. The payment was implemented mainly with the help of customs duties receipts and borrowing in the Russian market.