PRESS: Rusnano cancels 9 bln rbl of bonds using state guarantee

MOSCOW, Oct 14 (PRIME) -- Russian state-owned nanotechnology company Rusnano has cancelled 9 billion rubles of bonds using the state guarantee, Vedomosti business daily reported on Friday citing sources close to the government and the company.

On Thursday, Rusnano announced the cancellation of a 9 billion ruble bond issue of the sixth series, secured with a state guarantee, and a coupon payment of 561 million rubles.

One of the sources said that Rusnano did not have sufficient liquidity to fulfil its obligations and to continue operations in a normal regime so it was decided to use the state guarantee and repay the obligations from the budget.

It is the first time that Rusnano’s obligations are paid from the budget, according to the sources.

The company is to cancel another 9 billion ruble bond issue, secured with a state guarantee, in December.

(63.4917 rubles – U.S. $1)

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