Vneshekonombank to allocate funds for servicing Russian eurobonds

The Russian Finance Ministry assigned Vneshekonombank, which was currently the agent of the Russian government for servicing its foreign debt, to transfer resources for executing coupon payments for two issues of Russian eurobonds. As the press service of the Finance Ministry reported to RBC today, the total sum amounts to $320.5m. From these resources, about $129.88m will be paid on a coupon of seven-year eurobonds with a maturity date in 2005, and about $190.62m is to be allotted for coupon payment for twenty-year eurobonds with a maturity date in 2018.

On July 23, 2002, Vneshekonombank is to transfer these resources to Citibank, which is the payment agent of these eurobond issues. In its turn, Citibank is to execute coupon payments to the holders of Russian eurobonds on July 24, 2002, strictly according to the payment schedule.

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