Naftogaz of Ukraine declared default on Eurobonds

Naftogaz Ukrainy (Naftogaz) defaulted on Eurobonds after the deadline for payments to their holders expired. The company announced this on July 26 in its Telegram channel. “The government went into default on Eurobonds of Naftogaz Ukrainy. Since the default on Eurobonds practically deprived Naftogaz of access to the international capital market, the government, by banning … Read more

Naftogaz of Ukraine declared default on Eurobonds

Naftogaz Ukrainy has declared a default on its Eurobonds, as the deadline for payments by NJSC Naftogaz to Eurobond holders has expired. This was reported on July 26 in the company’s Telegram channel. The payment period for Eurobond holders expired on July 26, 2022, and the government of Ukraine went into default on these securities. … Read more

Ukraine will offer holders of Eurobonds to defer payments for two years

The Cabinet of Ministers adopted a resolution, according to which it instructed the Ministry of Finance to start negotiations with Eurobond holders on a voluntary deferral of payments on bonds for 24 months. According to Ukrinform, the relevant resolution dated July 19, 2022 No. 805 was published on government portal. It is noted that bondholders … Read more

The issuer pays twice // Brokers have proposed a solution to the problem of frozen payments on Eurobonds

Brokers are asking to oblige issuers to transfer to Russian investors for the second time payments on Eurobonds that turned out to be frozen in foreign depositories. Further payments are proposed to be prohibited from being sent outside the Russian Federation. Experts do not argue that such a step would solve the problems of investors, … Read more

The Ministry of Finance paid coupon income on Eurobonds for 8.5 billion rubles.

The Ministry of Finance of the Russian Federation reported on the payment of coupon income on bonds of external loans maturing in 2028. The amount of the payment amounted to 8.5 billion rubles, in accordance with the decree of the President of the Russian Federation, the Ministry of Finance made a payment in rubles. “Funds … Read more

ALROSA warned about the inability to pay on Eurobonds due to sanctions

Russian diamond producer ALROSA said it would not be able to make coupon payments on Eurobonds due to UK and US sanctions. We are talking about Eurobonds worth $500 million maturing in 2027 and with a coupon rate of 3.1% per annum, issued by Alrosa Finance SA (Luxembourg). The next coupon payment in the amount … Read more

Siluanov explained the reasons for the transition to the ruble when servicing sovereign debt

Global Look Press / Federation Council of Russia Russian Finance Minister Anton Siluanov pointed to a number of reasons that preceded the transition to payments on Russian Eurobonds in rubles. According to him, the corresponding decision of the department is connected with force majeure circumstances. Moscow can make a payment in foreign currency, but investors … Read more

Russian legal entities will be able to defer payment of taxes on Eurobonds

In accordance with the government bill submitted to the State Duma to change the tax legislation, Russian legal entities holding Eurobonds will be able to defer the payment of taxes on income from Eurobonds that are not received due to existing Western sanctions until 2024. The document, published in the Parliament’s database, states that the … Read more