Главная > News > VNP Vlasova Mikhel & Partners advised on the first ever Eurobond placement by a Belarusian corporate issuer.
20 december 2017

VNP Vlasova Mikhel & Partners advised on the first ever Eurobond placement by a Belarusian corporate issuer.

The largest Belarusian retailer Eurotorg LLC (about 20% of the market) in late 2017 issued the first Belarusian corporate eurobonds - five-year Loan Participation Notes (US$ 350 M) with an annual coupon rate of  of 8.75%. Securities issued by an intermediary - a specially created company Bonitron Designated Activity Company - were placed on the Irish stock exchange Irish Stock Exchange. The placement took place in the Reg S format. According to the lead arrangers, the volume of investors' demand amounted to about 1.9 billion dollars. The most active were investors from the United States, Europe, the Middle East, Latin America and Asia.

This transaction is the first corporate issue of Eurobonds by the Belarusian issuer.

VMP Vlasova, Mikheel & Partners advised the bookrunners JP Morgan, Sberbank CIB and Renaissance Capital - on issues related to its structuring and completion; Belarusian legislation regulatory issues; conducting due diligence; providing the necessary legal opinions; analysis of documents on the transaction and other issues of Belarusian law.