A group of Russian investors consisting of eight individuals and five companies sent notices of default to Belarusian Finance Minister Yuri Seliverstov on five Eurobond issues (Belarus 2023, Belarus 2026, Belarus 2027, Belarus 2030 and Belarus 2031). RBCreferring to the document.
According to the publication, direct payments of the above Eurobonds to Russian investors were stopped in 2022, but were resumed at the end of last year only for those who purchased the securities before September 6, 2022.
According to the declaration, Belarus’ “default” on these Eurobonds is the result of the “failure” of the Belarusian Council of Ministers and the country’s Central Bank to “fulfill their obligations to repay these Eurobonds” and/or not pay interest on the coupons belonging to them.”
The document also states that the new payment mechanism proposed by the Belarusian side is “discriminatory” and violates the interests of owners who purchased securities after September 6, 2022.
As a representative of the group told the publication, investors can appeal to the London Court of International Arbitration (LCIA) with a request to recover Eurobond payments from Belarus.
Before that, private investors in the name The Russian government will impose restrictions on the volume of state loans to Belarus, and will also stop issuing loans due to Minsk’s failure to pay bonds.
Previously Lukashenko prohibited Lying to the new Minister of Economy.