The Ministry of Finance will redeem Russia-2022 eurobonds in rubles ahead of schedule
Payments, including accumulated coupon income, were made on March 31 at the official rate of the Central Bank. Finance Minister Anton Siluanov will probably not allow negotiations on international negotiations.
Ministry of Finance ahead of schedule redeem foreign exchange obligations as little as four days before the planned exclusion. Payment for the cost of the paper will be transferred on March 31 – with conversion into rubles at the rate of the Central Bank for that day.
Former Finance Minister Anton Siluanov combinedthat the redemption of Eurobonds for rubles makes it possible to exclude discrimination against Russian holders of these securities, who do not receive foreign currency payments.
Timur Turlov, CEO of Freedom Finance Investment Company:
Timur Turlov CEO of IC “Freedom Finance”
In order to receive rubles for Eurobonds, their owners had to send instructions to the National Settlement Depository to transfer securities to the Russian Ministry of Finance’s treasury account with NSD.
But neither the Ministry of Finance nor the NSD has information about the owners of this Eurobond issue, says Vasily Oleinik, a private investor and author of the Money Does Not Sleep YouTube channel:
Vasily Oleinik private investor, author of the YouTube channel “Money Doesn’t Sleep” Of course, this is a positive signal, because Russian investors are sitting in Eurobonds for billions of dollars, and they are simply locked up, because Euroclear and Clearstream, the warehouse depositories where all the data is present, are closed. It is not entirely clear how they will unravel this tangle, where they will pull this data from, and this step is a little encouraging. Although purely technically, it is almost impossible to calculate even Russians, to separate flies from cutlets, non-residents from residents without access to the depository, where this data is present. I myself wonder how they will pull out of the “swamp” at least Russian manifestations
The issue of Eurobonds “Russia-2022” was placed in 2012, it is denominated in dollars. The date of release and payment of the accumulated coupon is April 4.