Russian Finance Ministry transfers 8.5 bln rubles to NSD to be paid out as coupons on Russia 2035 Eurobonds, replacement bonds

MOSCOW. Sept 30 - The Russian Finance Ministry has transferred 8.5 billion rubles, or the equivalent of $102 million, to the National Settlement Depository (NSD) to pay coupon yield on sovereign Eurobonds maturing in 2035 and replacement bonds for them, it follows from a statement by the ministry.

According to the statement, the NSD is acting as the paying agent and has received the funds.

The Finance Ministry has been making all payments on sovereign Russian Eurobonds in rubles since June 2022.

The Finance Ministry's statement gives codes for both the original issue and the issue placed during the recent sovereign Eurobonds substitution. The substitution was completed in early December 2024.

Russian Eurobonds worth $20.8 billion at face value, taking into account the amortized structure of Eurobonds maturing in 2030, or 64.2% of the dollar equivalent of the face value of all original issues were substituted. The remaining bonds with a par value of $11.6 billion, also taking into account amortization, continue to trade on the secondary market and are serviced in accordance with the current procedure established by a presidential decree of September 9, 2023.

The nominal value of the 2035 Eurobond issue was $4 billion. According to data cited by the Finance Ministry, the replacement ratio of this issue was 71.8%. The replacement bonds maturing in 2035 were the largest of all the sovereign replacement bond issues, with $2.9 billion in circulation.