12 Apr 2022 10:29

Irish exchange delists Alrosa Eurobonds as of April 12

MOSCOW. April 12 (Interfax) - The issuer of the Eurobonds of Russian diamond miner Alrosa , Alrosa Finance S.A. has been notified by the Irish Stock Exchange (Euronext Dublin), where the Eurobonds are listed, that the listing will be terminated effective April 12 due to sanctions the European Union imposed against Russia, the company said in a statement.

The company "assures that it will make every effort to secure a listing on another stock exchange that meets the requirements stipulated in the Notes documentation considering limitations imposed by the sanctions and that noteholders will be notified about the status of this move at a later date," Alrosa said.

"The delisting from the Irish Stock Exchange (Euronext Dublin) will not in itself adversely affect the Company's ability to service its liabilities under the Notes, nor will it limit in any way the holders' rights with respect to the Notes or payments to be made under them," the company said

The company currently has two outstanding Eurobond issues of $500 million each with maturity in 2024 and 2027, respectively.

The EU sanctions against Russia prohibit listing and providing services on EU exchange for securities issued by Russian state companies.