Eurotorg Eurobond issue named «The Best Primary Bond Deal in Belarus» by Cbonds Awards CIS – 2021
On June 24, 2021, the winners of the Cbonds Awards CIS 2021 were announced at the XVII CIS and Baltic States Bond Congress in St. Petersburg. Eurotorg LLC became the winner in the category "Best Primary Bond Deal in Belarus" for its successful USD 300 million Eurobond issue placed in October 2020.
Andrei Zubkou, Eurotorg CEO, commented: “Since 2017, the Company has been paving the way to international capital markets for the corporate sector of Belarus. With each new placement we get convinced again that we have chosen an effective development strategy for Eurotorg, and we are moving in the right direction. Continued interest of investors in our securities, together with various awards in different categories, reaffirm high appreciation and trust in our Company. We are proud of the title “Most Impressive Debut Issuer in Emerging Markets” awarded by GlobalCapital in 2018 following the first Eurotorg’s Eurobond issue, and the award of Cbonds Awards CIS this year for the second Eurotorg’s Eurobond issue”.
USD 300 million Eurobond issue due in 2025 was Eurotorg’s second successful placement in the international debt market. The Company placed five-year Eurobonds with an annual coupon rate of 9.00% on the Irish Stock Exchange on 22 October, 2020. The issue attracted significant investor interest, with demand amounting to roughly USD 650 million. More than 60 institutional investors from the UK, the USA, EU, Switzerland and other countries were represented in the final book and over half of them were holders of the Company’s first Eurobond issue.
Eurotorg used the proceeds of the placement to refinance its outstanding 2017 bonds maturing in 2021 – 2022 as well as for other debt refinancing.
The new Eurotorg’s Eurobond issue was arranged by J.P.Morgan and Renaissance Capital and was rated “B” with Stable Outlook by Fitch Ratings, and “B-” with Stable Outlook by S&P Global ratings in line with the Company’s corporate ratings.
To view the full list of winners, click on the following link.