Belarus

The Republic of Belarus has released initial price thoughts for a $600m 12 year bond after the country’s last deal, printed in June 2017, climbed 11 points since pricing.

The Republic of Belarus, which issued one of the best performing bonds of 2017, is looking to return with a 10 year dollar benchmark.

The Republic of Belarus is considering reopening its $600m 7.625% 2027s, according to a source with knowledge of the matter, after a strong rally that has made them the best performing hard currency bonds in CEEMEA in the last six months.

Belarusian food retailer Eurotorg’s $350m new issue traded up in the secondary market on Thursday morning, demonstrating the high appetite for rare corporate bonds from emerging markets.

Belarusian food retailer Eurotorg tightened price guidance on Wednesday for a $300m-$350m bond to 9.125%-9.25%. Syndicate officials away from the deal said that level was much wider than they expected for the note but a lead manager has launched a staunch defence of pricing.

This article is the fourth and final part of a series on China’s Belt and Road Initiative that we are publishing during the 2017 IMF-World Bank annual meetings in Washington DC. We have devoted two articles to the Road element, and two to the Belt element, of which this piece is the second and focuses on the western part of the overland route

Food retailer Eurotorg met investors this week to market the first ever international bond from a Belarusian corporate, but bankers were sceptical about whether there will be an influx of issuance from the former soviet state.

Recession and lingering sanctions concerns failed to prevent Belarus hammering down on price on its return to the dollar bond market after a six year absence.

Belarus returned to the eurobond market for the first time in more than six years on Thursday, releasing initial price thoughts for a dual-tranche dollar deal.

Belarus will hit the road next week for a dual tranche dollar offering, in what could be its first successful attempt to access the market since 2011. Its economy is expected to contract 0.5% in 2017.

Belarus will hit the road next week for a dual tranche dollar offering, in what could be its first successful attempt to access the market since 2011. Its economy is expected to contract 0.5% in 2017.

SME specialist Belarusky Narodny Bank (BNB) has signed $20m of loans from international lenders and the European Bank for Reconstruction and Development (EBRD).