A $9 Billion Bond Problem Is Coming for Russian Debtors
- Russian issuers face a more difficult landscape amid sanctions
- Rosneft, Gazprom and government all have bonds due soon
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Russian borrowers will need to figure out how they’re going to pay about $9 billion over the next three months.
That’s the approximate amount of cash that Russia’s companies and government are due to pay holders of foreign-currency bonds before the end of May, according to data compiled by Bloomberg. That task has been complicated by the swath of international sanctions that have been imposed on Russia following its invasion of Ukraine, as well as President Vladimir Putin’s response: capital controls, albeit ones that are set to exclude the need to service existing debt.