The loan of Russia's Sberbank to Belaruskali company will be traded in the Belarusian exchange market as government bonds issued in foreign currency.
The Ministry of Finance of Belarus placed nine issues (VGDO 89-97) on the domestic market in December 2012 in the amount of $800 million, Interfax quotes the Republican Central Security Depositary (RCSD).
A $800m issue of VGDO 84, which was placed in December 2011 and bought by Belaruskali at the cost of Russian Sberbank's loan, was removed from the centralised custody.
“The VGDO 84 issue was replaced by new issues in December on the terms more preferential for the Ministry of Finance as part of the ongoing work to optimise the loan portfolio,” the chief of Ministry of Finance's press service commented on the deals confirming the debt refunding for Belaruskali company.
According to the data of the Belarusian Currency and Stock Exchange, 13 issues (VGDO 86-98) of government bonds in US dollars in the amount of $978m were placed on the exchange for the second time on December 29, 2012. Belarusian government bonds in foreign currency were included in quotation list "A" of the first level.
The Ministry of Finance sold another Belarus's resident a $60m issue of VGDO 98 with a circulation period of 4 years and a 7% annual coupon rate in December. In October and November, the Ministry of Finance placed four issues of government bonds (VGDO 85-88) with circulation periods of 3 and 3.5 years for a total amount of $218 million.
The annual return on the issues is 7%.
Besides the package of the government bonds bought by Belarusskali company, four issues for a total amount of $178m were placed in the market.