Belarus has received a state loan from Russia in the amount of $ 700 million, according to the Ministry of Finance.
“September 15 to the state financial loan of the Russian Federation in full amount credited to the account of the Ministry of Finance”, – is spoken in the message published on the official website of the Ministry of Finance of Belarus.
The loan is for 10 years. It will be repaid in annual installments in April and October, beginning in 2018. The sum of the tranches will gradually grow from 2.5% of the amount in the first few years to 9.5% in April and October 2027.
Rate 6-month LIBOR plus a margin, which is calculated as the difference between yields on dollar-denominated Eurobonds of the Russian Federation with maturity in seven years and the estimated rate seven-year interest rate swap in U.S. dollars.
The loan is intended to refinance the obligations of Belarus to the Russian Federation on the previously received loan.
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