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Russia's Evraz stops working to make bond voucher payment because of sanctions-Pumao steel

2022-03-23 | Pumao

On March 21, Russian steel producer Evraz claimed in a note at the London Stock Market that its routine voucher repayment of $18.9 million under Eurobond 2023 was not gotten by the agent. "The payment was picked up conformity by the correspondent bank, Societe Generale New York City," Evraz stated.

The stopping of the repayment is gotten in touch with Roman Abramovich, who possesses a 28.64 percent stake in Evraz, being consisted of in the extended checklist of permissions against Russia.

Evraz "alerted the BNY Mellon Corporate Trustee Services Limited regarding the Prospective Occasion of Default," though the company included that, in addition to the malfunction of the financial framework, there are no reasons for a potential event of default.

Evraz as a company, along with other Russian producers, have not been placed under the assents, yet its significant shareholder Roman Abramovich has been under the sanctions initially used by the UK as well as later on by the EU.

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