MOSCOW, Apr 20 (PRIME) -- Russian Agricultural Bank has failed to pay a U.S. $21.25 million coupon on subordinated Eurobonds to RSHB Capital S.A. as the U.K. sanctions prohibited that, the bank said in a statement on Wednesday.
Taking into account the current situation with payment of interest on the Eurobonds by other Russian issuers, the bank preemptively requested an approval of a U.S. dollar transaction in favor of a creditor by the Russian central bank. It also requested a payment order from the London branch of Bank of New York Mellon.
As of today, the payment agent has not yet confirmed readiness to receive the payment from Russian Agricultural Bank and to pay interest to depositories Euroclear, Clearstream, and DTC and to the holders of Eurobonds. The Russian bank is taking all the necessary steps to resume coupon payments and continues dialogue with the payment agent on getting a new license to service the credit.
Russian Agricultural Bank has enough liquidity to fulfill all liabilities, the bank said.
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