PRESS: Finance Ministry not to raise STLC capital for bond payment

MOSCOW, Aug 1 (PRIME) -- The Finance Ministry will not raise capital of State Transport Leasing Company (STLC) to buy Eurobonds, which the company has not been servicing for a year, business daily Vedomosti reported on Tuesday citing a letter of the ministry.

The company was unable to pay coupons for its Eurobonds issued by GTLK Europe Capital DAC and GTLK Europe DAC, after the U.S., the E.U. and the U.K. imposed sanctions.

Bondholder Sergei Buturlin sent two similar letters asking President Vladimir Putin and Prime Minister Mikhail Mishustin to raise STLC capital so it repaid the debt in rubles or with replacement bonds.

(91.5923 rubles – U.S. $1)

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