Russia dollar bonds give back part of Friday’s gains

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Russia’s finance ministry said Friday it had managed to pay, in U.S. dollars, $564.8 million in interest on a 2022 bond and $84.4 million on a 2042 bond, despite having vowed to make those payments in rubles.

The government’s foreign bonds remain deep into distressed territory, with most trading under 30 cents on the dollar.

A bond maturing in 2026, which has a payment due on May 27, was down 5 cents at 28, after having risen 13 cents on Friday.

A 2029 bond dropped 7 cents to 22 cents after rising from 14.5 cents to 29 cents on Friday. This bond’s next coupon payment is due in September.


Russian (default) roulette