On April 27 Russia To Pay 67.5 Billion Italian Lire On Russian Eurobonds Coupon

The Russian Finance Ministry has given instructions to Vneshekonombank, which is the Russian government's foreign debt payment agent, to transfer 67.5 billion Italian lire (about $31 million) to Citibank on April 27 as coupon payment on Russian Eurobonds maturing in 2003. This was disclosed to RIA Novosti on Monday by a source close to Vneshekonombank. Under the payments schedule, the coupon payment to the holders of these Eurobonds falls on April 30, and the funds are transferred in advance. Denominated in Italian lire, Russia's Eurobonds were issued in 1998 with maturity of five years. The Eurobonds have a total nominal value of 750 billion Italian lire, and carry a coupon at 9 per cent of annual interest. Each coupon is paid annually.

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