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Russia’s $66 Million Coupon Moves a Step Closer to Bondholders

  • Russia’s $3 billion Eurobond coupon was due on March 21
  • Bond documentation allows for payment in local currency
The headquarters of the Ministry of Finance in Moscow.

The headquarters of the Ministry of Finance in Moscow.

Source: Bloomberg

Updated on

Foreign holders of Russia’s sovereign bond maturing in 2029 are watching as the latest debt payment from the sanctioned nation draws closer to completion. 

The $66 million coupon due March 21 was processed Tuesday by Russia’s National Settlement Depository, it said in a statement. Earlier in the day, the Finance Ministry said it had transferred the cash to the NSD, thus meeting its obligations “in full.” Four bondholders in Europe said they hadn’t received the payment as of 3.40 p.m. in London.