By Rebecca Melvin
New York, June 19 – The Republic of Belarus, acting through its Ministry of Finance, priced $1.25 billion of notes in two tranches on Wednesday, according to a market source.
The $500 million tranche of 5 7/8% notes due Feb. 24, 2026 priced at 98.799 to yield 6 1/8%, or a spread over U.S. Treasuries of 577.9 basis points.
The $750 million tranche of 6 3/8% notes due Feb. 24, 2031 priced at par for a spread over Treasuries of 563.2 bps.
The combined order books for the long five- and 10-year notes closed at more than $4.8 billion.
Citigroup, Raiffeisen Bank International AG, and Societe Generale were joint bookrunners, with Renaissance Capital as joint lead manager of the Rule 144A and Regulation S tranches.
| Issuer: | Belarus
|
| Issue: | Notes
|
| Amount: | $1.25 billion
|
| Bookrunners: | Citigroup, Raiffeisen Bank International AG and Societe Generale
|
| Joint lead manager: | Renaissance Capital
|
| Pricing date: | June 17
|
| Settlement date: | June 24
|
| Rating: | S&P: B
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Long five-year notes
|
| Amount: | $500 million
|
| Maturity: | Feb. 24, 2026
|
| Coupon: | 5 7/8%
|
| Price: | 98.799
|
| Yield: | 6 1/8%
|
| Spread: | Treasuries plus 577.9 bps
|
|
|
| Long 10-year notes
|
| Amount: | $750 million
|
| Maturity: | Feb. 24, 2031
|
| Coupon: | 6 3/8%
|
| Price: | Par
|
| Yield: | 6 3/8%
|
| Spread: | Treasuries plus 563.2 bps
|
|
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