From VK through the court demanded to pay 953.3 million rubles of debt in Eurobonds, writes RBC. At the same time, the company claims that it is not the executor of these payments.
The lawsuit was filed by the management company “First” (the former “Sber Asset Management”), the materials were filed with the court in March. Then the essence of the claims was not revealed. The first meeting attended by an RBC correspondent took place the day before, on May 31.
The plaintiff’s representative noted that VK did not comply with the requirements of Russian Presidential Decree No. 430 of July 5, 2022. In accordance with these requirements, all Russian Eurobond issuers are obliged to repay investors the debt of the Federation Russian in rubles. It was also possible to reissue bonds in the Russian Federation for replacement.
We are talking about $400 million of 1.625% convertible Eurobonds due 2025, which VK Company Limited placed in 2020.
The plaintiff’s representative stated that VK did not comply with the presidential decree on time and does not consider himself an obligated person. He stressed that the other stock market participants fulfilled their obligations in good faith within six months.
VK, in turn, claimed that the organization did not receive funds from the issuer that issued the Eurobonds, is not a guarantor in this case and cannot act as a proper defendant. The company representative added that the company made coupon payments in October of last year, as well as on April 1 of this year.
Author:
Natalia Gormaleva
Source: RB
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