Rosselkhozbank, due to British sanctions, was unable to pay the coupon in dollar Eurobonds.
Due to the sanctions, Russian Rosselkhozbank (RSHB) failed to pay a coupon on dollar Eurobonds worth $ 500 million at the time and found itself in a state of default. The bank announced this on Wednesday, April 20.
RSHB said that due to sanctions imposed by the UK, on April 16 they did not pay interest for the total $ 21.25 million in favor of the issuer of the Eurobond, RSHB Capital SA (Luxembourg).
According to the message, the paying agent has not confirmed its readiness to accept payment from the bank and pay interest on Euroclear / Clearstream / DTC deposits, and beyond to Eurobonds holders.
RSHB has become the second bank in Russia to officially report problems with payments. Earlier, Sovcombank, which fell under US sanctions, announced that it had suspended the accrual of interest on two issues of Eurobonds.
As reported, on March 24, the UK government imposed sanctions against 59 individuals and businesses in Russia. In particular, Rosselkhozbank was blacklisted.
It will be recalled that due to Russia’s invasion of Ukraine on March 2, the EU disconnected seven Russian banks from SWIFT, including Sovcombank.
News from Athletistic in the Telegram. Subscribe to our channel Athletistic
Source: korrespondent
