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;

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