7 Mar 2023 16:56

Severstal to make March coupon payment on dollar-denominated 2024 Eurobonds in rubles

MOSCOW. March 7 (Interfax) - Severstal will make the next coupon payment on dollar-denominated Eurobonds maturing in 2024 in rubles, the company said in a statement.

Last November, the company received consent from bondholders to make ruble payments on it.

The nearest coupon payment on Eurobonds is due March 16. The record date for holders is March 15. According to Severstal, holders of Eurobonds on that date via the National Settlement Depository or other Russian custodians will receive payments in rubles through the respective Russian custodians.

Eurobond holders holding them through foreign nominee holders and wishing to receive direct payments from Severstal in rubles should contact the company for an application form for direct payment and a list of required documents. The documents will have to be submitted within 30 calendar days from the date the register is closed.

Severstal has been under U.S. blocking sanctions since last June. In August, the company carried out early redemption of dollar-denominated Eurobonds maturing in 2022, having also received investors' consent to make ruble payments on them.