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Strategies & Market Trends : Investment in Russia and Eastern Europe
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To: Paul Berliner who wrote (940)3/24/1999 5:56:00 PM
From: Rob Shilling  Read Replies (1) of 1301
 
Paul, from Interfax:

Coupon payments on Russian Eurobonds will be made automatically, Deputy Finance Minister Mikhail Kasyanov told Interfax Wednesday. The latest complications in the political situation will not affect foreign debt pay-ments, he said. "The money will be transferred automatically," he stressed.

Vnesheconombank, Russia's payment agent for Eurobonds, transferred DM 180 million to Deutsche Bank to pay seven-year Eurobond coupons coming due on March 25, the bank told Interfax. These bonds were issued in March 1997, worth a total of DM 2 billion, and are due in 2004. On March 31, Russia is due to pay
DM 117.8 million on bonds issued in March 1998, worth DM 1.25 billion. Last week the Ministry of Finance instructed the bank to make these payments.
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