Russian lender Sovcombank has canceled the interest accrued under two of its perpetual bonds, becoming the first Russian borrower to opt for this route as companies struggle to complete payments to creditors amid international sanctions.
Russian companies are struggling to keep up with debt obligations as international sanctions make it difficult for payments to reach investors. Some have payments pending the receipt of a special license in the UK or US, while others have paid in rubles. None had previously canceled payments.
*had
To put it, succinctly, the bondholders have been told to go and f..ck,themselves. Now why didn't we do that when we has a banking crisis..
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Source: IrishTimesBiz - 🏆 6. / 77 Read more »