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Weekly Lists
April 27, 2018 www.intellinews.com I Page 29
bne:Credit No more Eurobonds
from Belarus this year
Belarus has plenty of money to meet its obligations this year and most of next, so it is not planning any more Eurobond issues but may issue debt on the Russian capital markets, the head of Belarus’s debt agency said on April 19.
“We won’t issue any more Eurobonds this year or next year as we have enough money to cover the debt repayments in 2018 and for the first half of 2019,” Andrei Belkovets, head of the public debt department of the Ministry of Finance, told delegates at a recent Cbonds event in London. “We will return the Eurobond market no earlier than 2020.”
Belarus tapped the international debt market on February 21 with a $600mn issue of 12-year Eurobonds with 6.2% coupon following January's drop in the nation's foreign exchange reserves by $838mn, or 11.5% month-on-month, to $6.477bn.
The first national-currency letter of credit between Iranian and Turkish signatories has been opened. The letter of credit was ar- ranged between Iran and Turkey using an Iranian rial and Turkish lira currency swap deal with Bank Melli Iran, the Central Bank of Iran (CBI) said on April 22.
Turkey is the first country that has moved ahead with a bilateral currency trade swap with Iran following the removal of the US dol- lar from mutual trading.
“Bank Melli Iran has put concluding monetary treaties/currency swaps with major trading parties on its agenda, aiming to facilitate trade with neighbouring countries, conducting foreign exchange operations of real and legal entities with the banking system, using international payment tools,” the CBI said.
The Kazakh government is planning a tenge-denominated bond debut, Raiffeisen Bank International AG (RBI) analysts said on
April 24, citing Kazakh Finance Minister Bakhyt Sultanov. Moreover, euro and Chinese yuan-denominated bond issuances may follow the tenge bond later this year, according to reported remarks
from Sultanov.
RBI suggested that a new placement may “attract strong interest from investors”, since the Kazakh sovereign is not a frequent issuer. The bank sees the chance of there being a euro placement as slim- mer compared to the chances of a Chinese yuan-issuance due to growing trade cooperation between China and Kazakhstan.
Bank Melli Iran arranges first ever national currency letter of credit with Turkey
Kazakhstan plans tenge-denominated bond debut