VK will issue replacement bonds, according to the company’s website. Earlier, the board of directors and shareholders of the holding approved the “relocation” of the company from the British Virgin Islands to the Kaliningrad region. Also in August, VK announced that it would be delisted from the London Stock Exchange (LSE).
VK’s subsidiary Mail.Ru Finance plans to place Russian bonds to replace VK’s Eurobonds, the rights of which are held by Russian depositories.
This decision is related to the requirement of Russian legislation. Earlier, Russian President Vladimir Putin issued a decree obliging all Russian companies that have obligations related to Eurobonds to honor their obligations to holders. The expiration date is January 1, 2024.
VK does not disclose the parameters and terms of the issue, noting that it will inform investors about them after the registration of documents by the Central Bank.
Leaving the LSE, the holding company announced an initial share listing on the Moscow Stock Exchange.
Author:
Natalia Gormaleva
Source: RB
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