NEW YORK (Dow Jones)--The government of Belarus raised $600 million in a five-year bond offer Monday as it took advantage of favorable market sentiment to price its first-ever foreign-currency government bond.
The securities priced at 99.011 cents on the dollar and offered investors a yield of 9%, according to a person familiar with the transaction. The yield came in at the low end of the price guidance released by deal managers earlier in the day.
BNP Paribas SA, Deutsche Bank AG, Royal Bank of Scotland Group PLC and Sberbank were lead bookrunners on the sale.
Belarus is rated B1 by Moody's Investors Service and B+ by Standard and Poor's Corp.