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Citibank stops servicing Russian Eurobond issues - Russian Finance Ministry

Functions of the payment agent for Russia-2023, Russia-2028, Russia-2042 and Russia-2043 Eurobonds were transferred to the National Settlement Depositary because Citibank halted provision of services for these issues, the Russian Finance Ministry said on Thursday.

"The Russian Ministry of Finance informs that since May 24, 2022, Citibank, N.A., London Branch, having taken advantage of its rights under fiscal agent service agreements, halted performance of functions of Fiscal Agent, Registrar, Transfer Agent and Paying Agent for bonds of international bond loans of the Russian Federation, Russia -2023, Russia-2028, Russia-2042 and Russia-2043 issues. Functions of the paying agent and under functions for mentioned bond issues were transferred to the National Settlement Depositary in accordance with law of the Russian Federation," the Ministry said.

According to the Finance Ministry, Russia's foreign debt amounted to $57.143 bln as of April 1, 2022, including $37.26 bln worth debt under international bond loans. Russia has fifteen bond loans at present, with maturity from 2022 to 2047.

[Source: Tass, Moscow, 02Jun22]

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