Radio Silence on Russia Debt Payments Keeps Default Risk in Play
- Thursday marks the start of 30-day grace period for settlement
- Russia warns without access to dollars, it’ll pay in rubles
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As the deadline for coupon payments on Russia’s dollar bonds drew to a close Wednesday, there were no signs that holders of the debt had received their cash.
Bondholders in Europe and one in the U.S. said they hadn’t received cash in dollars at the close of business in their respective countries, and weren’t aware if payments were made in either the greenback or rubles into accounts in Russia. They declined to be identified because they aren’t authorized to discuss the matter publicly. The $117 million interest on the two bonds was expected to be settled before the end of the day in New York.