The Ministry of Finance of the Russian Federation has completed its payments on coupon income for the Eurobonds, totaling 19.6 billion rubles for bonds maturing in 2027 and 2047, according to a report from TASS citing the ministry.
Funds to cover the coupon income on foreign government loans with total maturities summing to 19.6 billion rubles in 2027 and 2047, equivalent to about 234.8 million US dollars, were received by the Eurobond payment broker, Non-Credit Organization NSD JSC.
Officials emphasize that Russia is meeting its obligations to service government bonds in full through the actions of the Ministry of Finance.
Earlier, a decree was issued directing Russian legal entities with Eurobond obligations to issue substitute bonds before the year closes. Eurobond holders whose interests are recorded by national depositories are tasked with ensuring the execution of these bonds by placing substitute securities before January 1, 2024, with the settlements to be paid either in the new bonds or in cash using the withdrawn funds.
In addition, there have been discussions about a proposed return to the government with the idea of patriotic government bonds designed to support national funding needs. The ministry has subsequently put forward a formal proposal to the government regarding such bonds and the framework for their potential issuance. Attributions: Ministry of Finance press materials