OREANDA-NEWS. December 23, 2010. "WestTransInvest" – the affiliated company of "WestLeasing" Group, which has the largest part of its leasing portfolio in Belarus, – has successfully floated its first bond issue. Rietumu – the biggest privately owned bank in Latvia – has the major stake in "WestLeasing", reported the press-centre of Rietumu Group.

The bonds are denominated in Belarus rubles and secured by commercial mortgage. The bonds have a floating interest rate, pegged to the refinancing rate of the National Bank of the Republic of Belarus, thus providing investors with a stable yield in the national currency.

"Owing to the bond issue "WestLeasing" Group can diversify financing sources and attract new funds for further dynamic growth on the local market. In such a way, also in future our customers in Belarus will be offered excellent commercial and industrial transport leasing services on favourable conditions", – says Renat Lokomet, vice-president of Rietumu.

"Over a number of years "WestLeasing" Group is one of the largest companies on commercial leasing market in Belarus. The attraction of new resources through bond issue, which bear a huge potential for additional borrowings in future, coupled with the support of Rietumu bank, will help us grow our business and strengthen the company’s leading position on the market", – notes Yuri Mechkovsky executive director of "WestLeasing".
 
The entire issue of "WestTransInvest" bonds has been successfully sold in the OTC market. The issue comprises 2.5bn in Belarus rubles and has a 3.5 year tenor.

Among different types and forms of collateral – real estate, insurance, bank guarantee etc. – the issuer has chosen business real estate.

The selected scheme of mortgage bond issue renders "WestLeasing" the opportunity to offer businesses in Belarus attractive leasing services in the national currency of the Republic of Belarus.