MOSCOW, July 11. /TASS/. Sovcomflot will hold meetings of company’s Eurobond holders on August 2, the Russian shipping company said on Monday.

Sovcomflot "announces meetings of holders of the notes issued by SCF Capital Designated Activity Company, Ireland, guaranteed by Sovcomflot, to adopt a package of decisions, including the introduction of alternative payment arrangements designed to resume coupon payments," the company said.

"Due to the EU and UK sanctions imposed on the issuer and guarantor in March this year, the proper discharge of obligations under the notes is technically impracticable, in particular, due to the refusal of the paying agent to accept the payment and pay the coupon. The meetings of the noteholders are scheduled for 2 August 2022," Sovcomflot noted.

Two issues of Eurobonds are currently in circulation, the company said. Sovcomflot at the same time "confirms its commitment to discharge obligations under the notes in full and has the necessary financial resources to do so," it added.