Russian MinFin transfers payments on 2022, 2042 Eurobonds to NSD in rubles

MOSCOW. April 6 (Interfax) - The Russian Finance Ministry has amid the U.S. ban on the use of frozen forex reserves to service foreign carried out payments on the country's sovereign Eurobonds maturing in 2022 and 2042 by transferring funds to the National Settlement Depositary in rubles.

Investors from unfriendly countries received payments to Type C accounts, while the unfreezing of Russia's foreign exchange reserves will create prerequisites for the conversion of rubles from these accounts into foreign currency, the ministry said.

"The Russian Finance Ministry informs that a foreign correspondent bank refused to carry out instructions for the payment of coupon yield and redemption of the nominal value on Russian external loan bonds maturing in 2022 from the 'Russia-2022' issue and the payment of coupon yield on 'Russia-2042' bonds in the total amount of $649.2 million due on April 4, 2022," sent in accordance with the issuance documentation of the said bonds on March 30 and March 31, 2022, respectively," the ministry said.