Minsk -- The Belarusian Finance Ministry is planning to raise 75 million euro in internal loans from Jan. 8 through July 8, 2015, the ministry told Interfax on Jan. 6.
Borrowings will be conducted in the form of sovereign bonds placed on the internal market, the spokesperson said. The bonds will be sold directly at the Belarusian Currency and Stock Exchange.
Total bond issue is 75 million euro, each bond with a par value of 10,000 euro, with a maturity period of just over five years (1,847 days), expiring on January 20, 2020.
The bonds will be placed at a rate of 7.25% per annum.
It was reported that in 2015 the Finance Ministry is planning internal borrowings in the amount of Br8 trillion, both in foreign-currency and in rubles
Since April 2014, the Finance Ministry has been placing benchmark bonds for businesses through direct sale at the Belarusian Currency and Stock Exchange. By December 1, 2014 the ministry had placed in total $355.2 million and 60.2 million euro in foreign-currency bonds on the internal market.
All in all, in 2014 the Finance Ministry was planning internal borrowings of up to $900 million through issuance of government foreign-currency bonds of up to $100 million for individuals and around $800 million for businesses.
