By Megan Davies
NEW YORK (Reuters) – Russia’s coupon payment on a sovereign bond due in 2029 has been processed by correspondent bank JPMorgan Chase & Co, a source said on Monday, the second time in recent days that the country appears to avoid a default.
Russia was due to pay $66 million to bondholders on Monday.
Last week, the country paid interest on two sovereign bonds, allaying doubts about its intention and ability to service its external debt after tough sanctions adopted by Western countries following the invasion of Ukraine.
The payout means Russia has avoided its first default so far since the 1998 financial crisis and the first of an international bond since the 1917 revolution.
JPMorgan worked Monday with the US Treasury Department on necessary approvals, the source familiar with the situation said.
The payment progressed to the next step before the money was delivered to bondholders, the source added. Reuters was unable to ascertain which bank would be the payment agent.
Last week, JPMorgan processed the payment as correspondent bank and turned it over to Citigroup Inc, which, as paying agent, distributed the funds to holders.
(Reporting by Megan Davies)
know more
+ Omicron: Unexpected symptom of infection in children worries medical teams
+ Mercadão de SP vendors threaten customers with fruit scam
+ Video: Mother is attacked on social media for wearing tight clothes to take her son to school
+ Horoscope: check today’s forecast for your sign
+ What is known about fluorone?
+ Trick to squeeze lemons becomes a craze on social media
+ ‘Monster Ichthyosaur’ is discovered in Colombia
+ One twin became vegan, the other ate meat. Check the result
+ See which were the most stolen cars in SP in 2021
+ Expedition identifies giant squid responsible for ship sinking in 2011
+ US Agency warns: never wash raw chicken meat
#Payment #Russia #security #processed #bank #source #ISTOÉ #DINHEIRO