The Russian gold mining company Nordgold, who belonged to Alexei Mordashov, was not able to hold payments on dollar Eurobonds with a repayment of $ 400 million in 2024. Interfax reports.
As noted by the Agency, NordGold did not transfer means to pay the coupon due to the technical problems arising from the Issuer. On April 9, the gold miner was supposed to make payments on Eurobonds totaling $ 8.25 million, but the obligations to shareholders were not fulfilled until now.
Nordgold declares that the company has the necessary resources for making payments and their delay is connected exclusively with technical aspects. The gold mining interacts with the payment agent and the trust managers for solving problems with payments.
Difficulties with payments on Russian Eurobonds are fixed from mid-March. NordGold is not the first such precedent. As reported by the interlocutor “Kommersant” in a large brokerage company, in March to the national settlement depositary did not come from the repayment of Eurobonds “Rosneft”, as well as the payment of the last coupon on sovereign Eurobondam.
Alexey Mordashov came under Western sanctions on February 28. In this regard, the entrepreneur left the post of Director Nordgold, having transferred the company’s controlling stake in his wife, as evidenced by the data from the official website of the Government of the UK.