Russia made payments on two sovereign dollar bonds, averting a default, but more payment deadlines loom, meaning investors remain on edge
Failure to pay could have led to Russia's first external bond default in more than a century and was seen as a key test after the sanctions intended to punish Moscow for its invasion of Ukraine.
News of the payment lifted Russian bond prices, with the 2043 bond , one of the issues on which a coupon had been due, rising to 45 cents in the dollar. A reflection of a yearly chart of U.S. dollars and Russian roubles are seen on rouble notes in this photo illustration taken in Warsaw November 7, 2014. REUTERS/Kacper Pempel
And the next international coupon due March 21 is a $66 million payment on a 2029 dollar bond, which like others sold after 2018, lists the rouble as an alternative currency option. It too has a 30-day grace period .
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