Page 107 - RusRPTDec21

8.5.1 Fixed income - bond news
The Russian nanotechnology corporation Rusnano’s bond with the closest maturity, on December 1, lost 17% at the opening of the trading session on November 22 to 830 rubles, the trading floor said in a statement. The company said it is negotiating debt restructuring. Rusnano has nine issues in circulation on the Moscow Exchange totaling 71.5bn rubles. On November 19, the bourse suspended trading in the bonds on orders of the central bank. The Russian government is working to raise effectiveness of nanotechnology corporation Rusnano but none of them envisages a default, the Finance Ministry said in a statement on Tuesday. "The Russian government is currently working on mechanisms to increase Rusnano's efficiency, including the closure of a historical project portfolio," the statement read. The authority added that the lineup of the board of directors will be changed. "None of the considered scenarios of company's efficiency increase envisages non-fulfillment of debt obligations of the company backed by state guarantees," the ministry said. The central bank suspended Rusnano's bond trading on November 19 after receiving information about debt restructuring negotiations in the company.
107 RUSSIA Country Report December 2021 www.intellinews.com