Leasing Company Eurotime LLC, a subsidiary of Insight Investment Group, issued bonds worth BYN 3 million (equivalent of USD 0.9 million) on the Belarusian Currency and Stock Exchange (BCSE) on November 14. The funds raised will be used to expand Eurotime's leasing operations. The bonds' maturity period is three years, and they offer a yield of 7.33% per annum.
This bond issuance is part of the issuer's first exchange-traded bond program in Belarus. The total issuance limit of the program is BYN 50 million (equivalent of USD 14.9 million) over a five-year period. The interest rate is not fixed – there will be several issue prospectuses under the program with their own rates.
The program's registration provides Eurotime with new opportunities for capital raising. The exchange-traded bonds issued under this program are accessible to a wide range of investors. "This is a significant milestone. It creates new opportunities for businesses and individual investors, contributing to the growth of Belarus's financial sector," stated Maksim Radkov, Director of Eurotime.
The issuance of exchange-traded bonds under such programs became possible following amendments to Law on the Securities Market No. 231-Z of the Republic of Belarus dated January 5, and other regulations and local legal acts of the BCSE.
The first issuance under Eurotime's program was registered on October 24, 2024. The issue is approved for placement and trading on the Small and Medium Business Market platform and is included in the second-tier quotation list. The bonds are being offered in the forward deals and continuous double auction modes.
This marks Eurotime's debut on the country's stock market. The company is also securing funding for expansion through ten partner banks.
Eurotime Leasing Company LLC was established in 2020. The company specializes in financial leasing of vehicles for both businesses and individuals in Belarus, offering a comprehensive range of leasing services, including leasing of cars, trucks, special vehicles, motorcycles, and buses. Eurotime ranks among the country's top 10 leasing companies. Insight Investment Group owns an 80% stake in the company, while the remaining 20% is held by the company's director, Maksim Radkov.
