19
Sep
14:32
Severstal's coupon bond freeze prevents another payment
Russian vertically integrated steelmaker Severstal's regular Eurobond coupon payment due 16 September was not paid due to restrictions imposed on the firm by foreign states, the company says.
The regular coupon payment on $800 million 3.15% loan participation notes due 2024 totals $12.6m. Despite Severstal submitting applications to authorised authorities with a request to provide the permits necessary for making payments on Eurobonds in the usual manner, such…
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Anonymous
Very good overview of the weekly steel market.
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