Page 23 - bne_newspaper_September_14_2018

Weekly Lists
September 14, 2018 www.intellinews.com I Page 23
bne:Credit
Cash-strapped Belarus seeks to borrow $2bn on Chinese, Russian markets after 2019
The Belarusian government is going to borrow up to $2bn on the Chinese and Russian markets after 2019, while the nation is not going to cooperate with the International Monetary Fund (IMF) due to the fact that the country's authoritarian President Alexander Lukashenko seeks to avoid "a shock for residents".
"We are preparing to place sovereign bonds on local markets. These are the markets of China and Russia. We hope that we will be able to borrow a total of up to $2bn on Chinese and Russian markets," Finance Minister Maksim Yermolovich said in a televised interview on September 9.
Belarus tapped the international debt market in February for the first time this year with a new $600mn issue of 12-year Eurobond 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.
Turkey is to issue euro-denominated government bonds and lease certificates to resident and non-resident individual investors, the Turkish Treasury said on September 11.
The Treasury will issue the securities, with a one-year maturity, from September 12, to diversify borrowing instruments and broaden the investor base, it added.
Turkey already issues euro-denominated bonds but, with around two-thirds of its sovereign debt in dollars, it is attempting to lower its vulnerability to fluctuations against the US dollar given the currency crisis that has seen the Turkish lira collapse in value.
Ankara, meanwhile, is pushing ahead with plans to issue yuan- denominated bonds for the first time.
Chinese banks are in the process of revoking the Visa and Master- card credit cards of Iranian customers to comply with US sanctions reimposed against Tehran, according to the director of the Iran Chamber of Commerce for Industries, Mining and Trade (ICCIMA), Pedram Soltani.
Since early summer, Iranians banking abroad in several countries have had their accounts shut or limited as lenders and countries grow wary of being partly or completely shut out of the US financial system as a penalty for maintaining business links with the Islamic Republic.
Turkey set to issue euro-denominated bonds to cut sovereign debt exposure to dollar
Chinese banks revoke Iranians’
Visa, Mastercard credit cards under US sanctions pressure