ALROSA updates on the situation regarding the next coupon payment under Eurobond 2024

[08] April, 2022 – Further information regarding the next coupon payment under Eurobond 2024.

On 7 April 2022, the U.S. Government imposed blocking sanctions against the Issuer and the Guarantor by including ALROSA in the so-called SDN (Specially Designated Nationals) list. In combination with the sanctions of the United Kingdom introduced earlier this means that currently it is technically impossible to properly settle the obligations under the Notes. At the moment the Issuer and the Guarantor are studying the options of the proper fulfilment of its obligations under the Notes.

For reference: On 24th of March, 2022 the United Kingdom imposed sanctions on the Issuer and the Guarantor. This means that currently due implementation of the obligations under the Notes is technically impossible. On 5th April 2022 ALROSA published press-release to confirm its commitments to fulfill its obligations under the Notes, and to provide the information on steps taken to effect the payment in line with the Notes documentation:

The Issuer and the Guarantor are committed to fulfill the obligations under the Notes in full and in due time. The Company is totally financially sustainable and is in possession of all financial resources necessary to fulfill the next coupon payment in amount of US$11,625,000. As at the end of 2021 ALROSA had a 0.4x Net Debt/EBITDA, its cash and cash equivalents were US$0.9 bn. We confirm that the Company is taking all possible steps and measures in order to protect the interests of the Noteholders.

This page was last updated on 11 April 2022 at 18.08