Belarus scraps Eurobond sale in Asian market
Belarus will not price Eurobonds in Asian markets this year due to technical reasons, according to Vice-president Andrei Kobyakov. He noted that this idea cannot be implemented due to purely technical reasons. The sale is impossible because of the coming holidays as a Eurobond deal requires favourable market conditions.
"Any placement requires a good timing when the market is ready at its best, in the issuer's perception. Therefore we cannot print a Eurobond anytime we like to," said Andrei Kobyakov. Belarus planned to target European investors when mulling to issue this $500m 7-year Eurobond in December 2010.