Yandex continued the program to buy back its own convertible bonds (bonds) and bought them for another $48.6 million. Therefore, Yandex increased the share of the redeemed bonds to 97.14% and the holders were left with less than 3% in their hands.
The transaction was reported in “Yandex”. In June, the company announced that it had bought back 84.9% of its bonds and later increased its stake to 93.2%.
Yandex pays in cash and shares of the parent company Yandex NV: the terms of the agreement with the bondholders provide for the payment of $140,000 and 957 shares of Yandex NV for each $200,000 of the nominal value of the bonds.
As a result of the latest transaction, Yandex became the owner of 97.14% of its own convertible bonds. The remaining 2.86% the company plans to buy before September 12 this year.
The Nasdaq stock exchange suspended trading in Yandex securities in February coffee. If the auction does not take place within five days, the holders of the securities have the right to demand their redemption. In March, Yandex announced the formation of a bondholders’ committee to discuss scenarios for restructuring liabilities.
Author:
Kirill Bilyk
Source: RB
I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.
