MinFin transfers 6.9 bln rubles to NSD for Russia 2042 Eurobond, substitute bond issue payments

MOSCOW. Oct 6 (Interfax) - The Russian Finance Ministry has transferred 6.9 billion rubles or the equivalent of $84.4 million to the National Settlement Depository (NSD) to pay coupon yield on sovereign Eurobonds maturing in 2042 as well as their substitute issue, according to a ministry statement.

NSD, the payment agent, has received the funds, it said.

The MinFin 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 sovereign Eurobonds substitution, 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 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 2042 bond issue was worth $3 billion at face value. According to the Finance Ministry data, the substitution ratio of local securities for this issue was 40.6%