OREANDA-NEWS  The Ministry of Finance of the Russian Federation has transferred 12.5 billion rubles (equivalent to $159.4 million) to the National Settlement Depository (NSD) to pay coupon income on sovereign Eurobonds maturing in 2028, as well as their replacement issue, the ministry said.

NSD, acting as a payment agent, received the funds, the report says.

Since June 2022, the Ministry of Finance has been making all payments on sovereign Eurobonds of the Russian Federation in rubles.

The Ministry of Finance's message provides the codes of both the original issue and the one that was placed in the process of replacing the sovereign Eurobonds. The procedure was completed in early December last year, and today's payment is the tenth made by the Ministry of Finance after the replacement.

In total, as part of the operation, Eurobonds of the Russian Federation were replaced in the amount equivalent to $20.8 billion at face value (taking into account the depreciation structure of Eurobonds maturing in 2030), or 64.2% of the dollar equivalent of the nominal volume of all original issues. The remaining outstanding Eurobonds of the Russian Federation with a nominal volume of $11.6 billion (also including depreciation) continued to be traded on the secondary market and are serviced in accordance with the current procedure established by the decree of the President of the Russian Federation dated September 9, 2023.