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26 December 21:14
The Ministry of Finance replaced sovereign Eurobonds
14:09; 06 December 2024 year
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The Ministry of Finance replaced sovereign Eurobonds.
The Russian Ministry of Finance has completed the process of replacing sovereign Eurobonds.
The Financial Department, as part of the operation, collectively replaced Eurobonds of the Russian Federation in the amount equivalent to US$ 20.8 billion at face value (including depreciation), or 64.2% of the dollar equivalent of the nominal volume of all original issues of Eurobonds of the Russian Federation.
The remaining outstanding Eurobonds of the Russian Federation in the aggregate nominal amount of USD 11.6 billion in equivalent (including depreciation) will continue to circulate on the secondary market and will be serviced.
Anton Siluanov, Minister of Finance of the Russian Federation, noted that investors who participated in this operation will no longer experience difficulties due to the unfriendly actions of foreign settlement and clearing organizations, including problems with the secondary circulation of relevant debt instruments and with receiving payments due.All the rights of such investors in Russian sovereign debt obligations are now reliably protected by the Russian financial infrastructure. The replacement of Eurobonds will serve as a good basis for the qualitative and comprehensive development of the national debt market.
The review was presented by Yulia Grishchenko, member of the Expert Council of the Moscow Stock Exchange on Listing, Ph.D. in Economics, Head of the Department of Financial and Investment Management of the Faculty of the Higher School of Management of the Financial University under the Government of the Russian Federation.
