Vlasova, Mikheel & Partners has advised bookrunners JP Morgan, Sberbank CIB, and Renaissance Capital on Eurotorg LLC's issuance of the first ever Belarusian corporate Eurobonds — five-year Loan Participation Notes (USD 350 million) with an annual coupon rate of 8.75%.
As previously reported, Eurotorg was represented on the issuance by the Belarusian office of Sorainen.
Securities issued by an intermediary — a specially created company Bonitron Designated Activity Company — were placed on the 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.
VMP's team included Partner Tatiana Emelianova, Senior Associate Yuliya Liashenko, and Associates Marina Khomich and Irina Chelysheva.