Bondholders Say Russia’s Yandex Has Paid Coupon on Dollar Debt – Bloomberg Law

A Russian telecommunications company has paid a coupon due Thursday on dollar bonds, in a relief to investors who fretted over whether Russian companies will continue servicing their foreign-currency bonds.

Search engine Yandex NV, the group’s entity based in The Netherlands, transferred $4.7 million to holders of its $1.25 billion bond due 2025, according to two bondholders who spoke on condition of anonymity. It’s the first foreign-currency coupon payment by a company headquartered in Russia since sweeping sanctions and capital controls raised fears among bondholders that corporates won’t be able to service their debts. The debt has lost more …

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