Belarus’ Development Bank explains terms for eurobond payments

The Bank of Russia has determined the procedure for making payments on eurobonds of OAO Development Bank of the Republic of Belarus and published the relevant decision on the Bank of Russia website on 29 July. In view of the fact the Development Bank requests eurobond holders, who are interested in resolving the problem of eurobond payments, to sign and notarize an application for fulfilling eurobond obligations in Belarusian rubles or an application for redeeming the eurobonds, the press service of the Development Bank of the Republic of Belarus told BelTA. Hardcopy originals of the appropriate application and documents specified by a list have to be mailed to OAO Development Bank of the Republic of Belarus located at 35 Masherova Avenue, Minsk, 220002 with a note “For fulfilling obligations under eurobonds of the Development Bank”. If any additional actions are required, the Development Bank will notify the eurobond holders about it. “The publication reflects the state of the matter regarding the [eurobond] payments as of the moment of the publication. At the same time taking into account the fluidity of the situation the Development Bank admits that things may have changed by the time the interested individuals get familiar with this publication,” the press service of the Development Bank of the Republic of Belarus cautioned.