Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of February 22, 2016 No. 75

About bond emission

For the purpose of stabilization of financial and economic provision of open joint stock company "The Belarusian steel works - managing company of Belarusian Metallurgical Company holding I decide:

1. Grant the right to open joint stock company "The Belarusian steel works - managing company of Belarusian Metallurgical Company holding (further - the issuer) to perform bond emission, nominated in foreign currency, in the amount which is not exceeding 240 500 thousand dollars of the USA (further - bonds), without the provisions provided in part one of subitem 1.7 and part three of subitem 1.10 of Item 1 of the Presidential decree of the Republic of Belarus of April 28, 2006 No. 277 "About some questions of regulation of the security market" (The national register of legal acts of the Republic of Belarus, 2006, No. 71, 1/7529).

2. Obligation fulfillment on bonds is provided:

pledge of the real estate belonging to the issuer on the property right which cost is sufficient for implementation of 50 percent of amount of bond emission of each release;

the insurance contracts of responsibility for non-execution (improper execution) of obligations of the issuer signed by the issuer with the Belarusian republican unitary enterprise of export-import insurance "Beleksimgarant" and the Belarusian republican unitary insurance enterprise Belgosstrakh within the standard rate of the insurer liability established by the legislation, the maximum size of obligations on which shall not exceed 50 percent of amount of bond emission on each release. Obligations assumed by the called insurance companies according to the specified insurance contracts are transferred to reinsurance to the republican unitary enterprise "Belarusian National Reinsurance Organization".

3. Recommend to the issuer to perform bond emission with the following conditions:

3.1. rate of interest income in the amount of no more than 7 annual interest rates;

3.2. circulation period of bonds up to 5 years;

3.3. placement of bonds by the closed sale within the amounts of the formed debt of the issuer on earlier granted loans to the following banks:

open joint stock company "Belarusbank savings bank;

Belagroprombank open joint stock company;

open joint stock company "Belarusian development bank and reconstruction Belinvestbank;

Belvneshekonombank open joint stock company;

BPS-Sberbank open joint stock company;

joint Belarusian-Russian open joint stock company "Belgazprombank";

3.4. as bondholders only residents of the Republic of Belarus can act.

4. The means received from bond emission go the issuer for debt repayment on the credits before the banks called in subitem 3.3 of Item 3 of this Decree.

5. To Council of Ministers of the Republic of Belarus to take measures for implementation of this Decree.

6. To impose control over the implementation of this Decree on the State Control Committee.

7. This Decree becomes effective after its official publication.

President of the Republic of Belarus

A. Lukashenko

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.