Finance Ministry to pay $117 mln coupon on Eurobonds on Wed

MOSCOW, Mar 15 (PRIME) -- Russia’s Finance Ministry is to pay a U.S. $117.2 million coupon income on U.S.-dollar Eurobonds maturing in 2023 and 2043 on Wednesday, as seen by PRIME in the ministry’s data on Tuesday.

Russia placed the $3 billion issue of 2023 Eurobonds and the $1.5 billion issue of 2043 Eurobonds in September 2013 at 4.875% annually and 5.875% annually, respectively. On Monday, the ministry sent payment orders to banks to pay the coupon.

Also on Monday, the Finance Ministry approved a temporary order of paying for the Eurobonds. It will issue orders to agent banks to pay coupons in the currency of the issue and on time, and if a foreign bank fails to comply with the order, then the order will be revoked and the ministry will pay in rubles using the official ruble’s exchange rate of the central bank as of the payment date.

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