MOSCOW, Apr 7 (PRIME) -- Russian Railways has failed to redeem U.S. $604.6 million of outstanding Eurobonds on time, issuer of Eurobonds RZD Capital in a statement on Thursday.
The company sold the $1.4 billion issue in 2012 at 5.7%, and was to redeem the outstanding $604.6 million on Tuesday. RZD Capital did not receive money from the borrower for repayment of the principal debt and interest.
Russian Railways informed the issuer that its payments on Eurobonds might be frozen or suspended for an uncertain period because it has to comply with the legal and regulatory requirements in the framework of a correspondent banking network, the company said.
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