Ministry of Finance paid 117,2 USD million in coupons on two Eurobonds

Ministry of Finance paid 117,2 USD million in coupons on two Eurobonds

18 March, the Russian Ministry of Finance announced, that Russia has fulfilled its obligations to pay coupon income on Eurobonds. Citibank's London-based paying agent received $117.2 million to pay.

We are talking about two government Eurobonds maturing in 2023 and 2043. The Ministry of Finance sent a payment order on them 14 Martha. These are the same payments., about which concerns have recently been expressed about a possible default - the inability to fulfill obligations.

That, that the obligations were fulfilled on time and in dollars, means, that the situation did not come to a default. Freezing the reserves of the Russian Central Bank and other sanctions did not prevent the payment, probably thanks to a license from the US Treasury, allowing investors to receive payments on Sovereign Eurobonds of Russia up to 25 May 2022.

These are the first coupon payments of Russia on foreign currency bonds after the freezing of the Reserves of the Central Bank and the presidential decree on the temporary procedure for fulfilling obligations to foreign creditors.. Decree, among other things, allows the state to pay foreign creditors in rubles, not in foreign currency.

According to CNBC, coupon payments are due in the near future 21 And 28 Martha, payment of coupons and debt body 31 Martha, and two payments in April and May, one of which is in euros. By the end of the year, the Ministry of Finance will have to pay more than $ 4.6 billion and euros.

We recently reviewed, what is a default and how it can affect ordinary Russians.

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