Finance Ministry transfers 5.6 bln rubles to NSD to pay coupon on Russia-2026 Eurobonds, replacement issue

MOSCOW. Nov 27 (Interfax) - Russia's Finance Ministry has transferred 5.6 billion rubles (equivalent to $71.3 million) to the National Settlement Depository (NSD) to pay coupon income on Russian sovereign Eurobonds maturing in 2026, as well as on the replacement issue, the ministry said.

The NSD, acting as the payment agent, received the funds, according to the statement.

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

The Finance Ministry's statement includes the codes for both the original issue and the one that was placed during the process of replacing the sovereign Eurobonds. The procedure was completed in early December last year.

As part of the operation overall, Russian Eurobonds with a nominal value equivalent to $20.8 billion were replaced taking into account the amortization structure of Eurobonds maturing in 2030, or 64.2% of the dollar equivalent of the nominal volume of all original issues. The remaining non-replaced Russian Eurobonds continue to circulate on the secondary market and are serviced in accordance with the current procedure established by the decree of the Russia president, dated September 9, 2023.

The nominal volume of the Eurobond issue maturing in 2026 was $3 billion. During the replacement procedure, 77.4% of the issue was replaced with local bonds, and the volume of outstanding replacement bonds is $2.3 billion.