Polyus asks bondholders to approve non-US dollar payments

MOSCOW, Jul 20 (PRIME) -- Russian gold producer Polyus has asked the holders of its U.S. dollar-denominated bonds to approve the possibility of payments in other currencies, including rubles, euros, Swiss francs and British pounds, and raise the grace period to settle payment problems to 30 days, the company said in a statement on Wednesday.

The company previously issued U.S. $800 million of bonds with a yield of 5.25%, $500 million of bonds with a yield of 4.70%, and $700 million of bonds with a yield of 3.25%, maturing in 2023, 2024, and 2028.

The company has also reserved the right to perform some payments in U.S. dollars.

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