“Gazprom” on verge of default

Gazprom State Forest Party was on the verge of technical default. The operator of payments for bonds of the gas monopolist – Citigroup – delays payments on paper due to inspections for compliance with the sanctions regime, writes Bloomberg with reference to papers and sources close to the American financial organization.

According to the publication, the state -owned company sent all the money within last week, that is, the issuer’s solvency is not in doubt. We are talking about payments for bonds nominated in US dollars in the amount of $ 15 million and in Swiss francs in the amount of ₣ 7.7 million ($ 8 million), but money for accounts of papers holders have not been transferred until now, for both issues of papers, a preferential period is provided for a preferential period repayment – 14 days. The publication also notes that since the beginning of the war in Ukraine, all previous bond coupons nominated in foreign currency have passed without problems. Moreover, Gazprom completely repaid one issue of papers worth $ 1.3 billion. Gazprom is under the sanctions of the United States and Great Britain, the European Union and Switzerland did not introduce restrictions against the state -owned company.