Russian Railways ruled in default after missing bond payment
Russian Railways ruled in default after missing bond payment – Russian Railways, Russia’s fully state-owned vertically integrated railway company, both managing infrastructure and operating freight and passenger train services, has failed to pay a bond coupon due on March 14 and...
JimMin
Russian Railways ruled in default after missing bond payment –
Russian Railways, Russia’s fully state-owned vertically integrated railway company, both managing infrastructure and operating freight and passenger train services, has failed to pay a bond coupon due on March 14 and has been subsequently ruled in default. The International Swaps and Derivatives Association (ISDA) announced today that “a Failure to Pay Credit Event occurred in respect of [Russian Railways],” which effectively puts the company in default over the payment. Russian Railways claims it tried to pay the bond coupon, but the payment did not […]
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