The Ministry of Finance sent $65 million to the depository to redeem Eurobond coupons

The Ministry of Finance sent money to the National Settlement Depository for coupon payments on bonds maturing in 2029, denominated in dollars. NSD's participation means that coupons for them will also be received by Russian residents

On March 21, the National Settlement Depository (NSD) received funds to pay income on Russian Federation bonds denominated in dollars, the Ministry of Finance told RBC.

“Obligations to service government securities of the Russian Federation have been fulfilled by the Russian Ministry of Finance in full in accordance with the issuance documentation for Eurobond issues,” the ministry said.

We are talking about coupon payments on ISIN RU000A0ZYYP9/ RU000A0ZYYN4 bonds in the amount of $65.63 million. The issue was placed in 2018, the maturity date is March 1, 2029.

March 21 is the next date for the payment of coupon income on these Eurobonds. This is the first such payment for DOLLAR bonds that have been issued since the start of Western sanctions in 2014.

In the face of sanctions risks, the Ministry of Finance provided that settlements for these securities would be carried out through the domestic infrastructure (NSD), and not just the European Euroclear (a European clearing organization that also provides settlements with securities. - RBC).