ALROSA says to pay Eurobond coupons in rubles due to sanctions
MOSCOW, Jul 19 (PRIME) -- Russian diamond mining giant ALROSA was technically unable to fulfil its obligations to pay U.S. $1 billion of coupons on two Eurobonds due to sanctions and will pay them in rubles, the company said in a statement on Tuesday.
“As a result of the sanctions imposed on ALROSA and Alrosa Finance S.A… it has proven technically impossible for the Company to fulfil its regular coupon payment obligations on 9 April 2022 and 25 June 2022 under each of the Note issues,” the statement read.
The company plans to instruct National Settlement Depository to arrange the transfer of funds for the Eurobond coupon payments, which fell due on 9 April 2022 and 25 April 2022 in Russian roubles, in accordance with the procedure stipulated in the central bank official clarification dated 20 May 2022, the company said.
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