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Russia’s Finance Ministry confirms Ukraine’s $73 million bond payment

June 24, 2014, 18:45 UTC+3 MOSCOW
Ukraine’s Finance Ministry earlier said Kiev had made a $73.333 million coupon payment on its Eurobond issued in late 2013
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Russia's Finance Ministry

Russia's Finance Ministry

© ITAR-TASS

MOSCOW, June 24. /ITAR-TASS/. Russia has received $73.333 million from Ukraine in bond payment, the Russian Finance Ministry said on Tuesday.

“The funds have been received in full,” the Finance Ministry’s press office said.

Ukraine’s Finance Ministry earlier said Kiev had made a $73.333 million coupon payment on its Eurobond issued in late 2013.

Ukraine has made a coupon payment on its $3 billion external government bond floated in December 2013 at a rate of 5% per annum and maturing in 2015, the Russian Finance Ministry’s website said.

Russian Deputy Finance Minister Sergei Storchak earlier said Russia expected a $75 million payment from Ukraine on June 20 in redemption of its December Eurobond issue.

Renaissance Capital chief economist for Russia and CIS countries Oleg Kuzmin has said Ukraine’s first coupon payment on its Eurobond on June 20 amounts to $73.333 million instead of the $75 million due to the shorter calculation period for the first coupon.

“The difference between the $75 million mentioned by Storchak and the current $73.33 million payment can be explained by a slightly shorter calculation period for the first coupon compared with all the other coupon periods,” Kuzmin said.

“All the other coupon payments under this bond issue make up $75 million each,” he said.

Late in 2013, Russia pledged to invest up to $15 billion in Ukrainian Eurobonds to prop up Ukraine’s flagging economy. Soon after that, Russia bought a $3 billion two-year Eurobond issue at a rate of 5% with coupon payments every six months.

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