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March 22, 2019 www.intellinews.com I Page 31
bne:Credit Belarus seeks to raise
up to $470mn via bond placement in Russia in 2019-2020
S&P affirms Romania’s 'BBB-/A-3' ratings
Belarus seeks to raise up to RUB30bn ($466mn) via bond place- ments in Russia in 2019-2020, according to a special resolution of the Belarusian government published on March 19.
The maturity period of the bonds should be 1,092 days or longer. The nation's finance ministry was instructed to conduct the emis- sion and undertake the costs related to the emission, circulation, redemption and servicing of securities, and their access to the stock exchange.
According to a separate decree inked by the nation's President Alexander Lukashenko in November, Belarus is going to raise $2bn via Eurobond placements in 2019-2020. According to officials in Minsk, the country also expects to receive $1bn from Russia as an inter-governmental loan soon.
S&P Global Ratings affirmed its 'BBB-/A-3' long- and short-term foreign and local currency sovereign credit ratings on Romania, the ratings agency said on March 15. The outlook is stable.
The affirmation of the ratings and the stable outlook reflect S&P’s expectation that the Romanian government will take steps to unwind and re-calibrate parts of its package of emergency policies introduced at the beginning of the year, including the financial asset tax.
“If unaltered, we believe that the initial policy proposals could have unintended negative effects on Romania's growth, competitiveness, and public finances, as well as on the central bank's monetary policy effectiveness,” the ratings agency said.
Troubled O1 Group of Russian billionaire Boris Mints has persuaded the holders of its $350mn bonds to hold off the mandatory buyout offer, one of the largest owners of Moscow real estate said on the Irish Stock Exchange.
Since spring 2018 O1 Group defaulted on three out of five bond issues worth a total of RUB87bn ($1.37bn) and finally had a 61.2% stake in O1 Properties acquired by Cyprus-registered Riverstretch Trading & Investments (RT&I), reportedly affiliated with state- controlled Rosneft oil giant. Reports also claimed that Financial Corporation Otkritie could get 35% stake in O1 Properties.
Boris Mints's O1 Properties gets breather on bonds