Russian finance ministry to consider claims to Russia-2022 Eurobonds satisfaction
The delay in the payment solely because of illegal actions of foreign financial mediators is considered by some investors as a consequence of intended use of borrowed funds by issuer beyond the established time limit, the statement reads.
Payments of extra interest on Russia-2022 Eurobonds were delayed due to the actions of foreign financial mediators, whereas the Russian Finance Ministry is ready to settle holders’ claims on fulness of satisfaction on those bonds, according to a statement released by the ministry on Thursday.
"The Finance Ministry of Russia announces in connection with information that a number of holders of Russia-2022 external bond loans of the Russian Federation have claims to the Finance Ministry of Russia on payment of additional interest for the period starting the date fixed for redemption of those bonds (April 4, 2022) until the date of virtual transfer of funds to owners. The funds were transferred to investors after the date set for the respective payment due to the fact that the Russian Finance Ministry’s foreign contractors did not perform their functions properly when redeeming those bonds. Meanwhile the delay in the payment solely because of illegal actions of foreign financial mediators is considered by some investors as a consequence of intended use of borrowed funds by issuer beyond the established time limit," the statement said.
Moreover, the functions of payment agent on Russia-2023, Russia-2028, Russia-2042 and Russia-2043 Eurobonds have been delegated to the National Settlement Depository.
"The Finance Ministry of Russia announces it is ready to consider and, if there are necessary grounds, settle bilaterally all claims on fulness of satisfaction on Russia-2022 Eurobonds," according to the statement.
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Payments of extra interest on Russia-2022 Eurobonds were delayed due to the actions of foreign financial mediators, whereas the Russian Finance Ministry is ready to settle holders’ claims on fulness of satisfaction on those bonds, according to a statement released by the ministry on Thursday.
"The Finance Ministry of Russia announces in connection with information that a number of holders of Russia-2022 external bond loans of the Russian Federation have claims to the Finance Ministry of Russia on payment of additional interest for the period starting the date fixed for redemption of those bonds (April 4, 2022) until the date of virtual transfer of funds to owners. The funds were transferred to investors after the date set for the respective payment due to the fact that the Russian Finance Ministry’s foreign contractors did not perform their functions properly when redeeming those bonds. Meanwhile the delay in the payment solely because of illegal actions of foreign financial mediators is considered by some investors as a consequence of intended use of borrowed funds by issuer beyond the established time limit," the statement said.
Moreover, the functions of payment agent on Russia-2023, Russia-2028, Russia-2042 and Russia-2043 Eurobonds have been delegated to the National Settlement Depository.
"The Finance Ministry of Russia announces it is ready to consider and, if there are necessary grounds, settle bilaterally all claims on fulness of satisfaction on Russia-2022 Eurobonds," according to the statement.
Source