Sovcomflot says sanctions prevent bond coupon payment

MOSCOW, Apr 25 (PRIME) -- Sanctions against Russian shipping company Sovcomflot prevent it from paying coupon 2028 bond due on Tuesday, the company said in a statement on Monday.

"The sanctions against the Issuer and the Guarantor imposed by the E.U. on March 15, 2022 and by the U.K. on March 24, 2022, impede proper discharge of obligations under the Notes: the payment agent has refused to accept payment from the Issuer or Guarantor and make coupon payments to Eurobond holders," the company said.

Sovcomflot plans to meet the liabilities fully and is taking all available measures to proceed with the payment. The company is financially stable, it said.

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