A Russian telecommunications company has paid a coupon due Thursday on dollar bonds, in a relief to investors who fretted over whether Russian companies will continue servicing their foreign-currency bonds.
Search engine Yandex NV, the group’s entity based in The Netherlands, transferred $4.7 million to holders of its $1.25 billion bond due 2025, according to bondholders. It’s the first foreign-currency coupon payment by a company headquartered in Russia since sweeping sanctions and capital controls raised fears among bondholders that corporates won’t be able to service their debts. Yandex’s debt has lost more than half its value in the past week, according to TRACE pricing.
