Bank of Russia stipulates procedure for payments on Eurobonds of Belarusian Development Bank through Russian infrastructure

National Settlement Depository will compile the list of holders of the Eurobonds and forward it to the Development Bank of the Republic of Belarus. Russian investors should send an instruction through their depositories to National Settlement Depository and apply to the issuer for payments in Belarusian rubles or buybacks of the Eurobonds. Filing such an application, investors should also waive any claims to the issuer. To receive the payments on the Eurobonds in Belarusian rubles, the holders should confirm their friendly status and the fact of purchasing the securities before 28 May 2024.

After checking the documents, the issuer will be able to transfer the funds to National Settlement Depository for subsequent payments to the applicants. Investors applying for buybacks will receive the payments directly from the issuer. After the receipt of the payments on the Eurobonds, the securities will be withdrawn from the holders’ accounts and recorded to the issuer’s account opened with National Settlement Depository.