Sberbank, Gazprombank, VEB and Alfa-Bank have been mandated to arrange Belarus' ruble-denominated sovereign Eurobond, according to a source in the Finance Ministry of Belarus. The source noted that the Ministry has already passed all documentation necessary for registering the issue to Russian arrangers. State registration of the issue in line with the Russian legislation on the securities market is likely to be completed soon.
Eurobonds will be issued in line with the President's Decree # 527 as of October 9, 2010 on issuance of Belarus Eurobonds in Russia in 2010-2011 in the amount of up to RUR15bn and having a tenor of up to 5 years. The government of Belarus approved the issuance by Decree # 1543 as of October 22, 2010.