PRESS RELEASE The Russian Federation’s $ 1 000,000,000 9% Bonds due 2001 were paid in full today, according to the Ministry of Finance
Moscow, November 27, 2001. The Russian Federation’s $ 1 000,000,000 9% Bonds due 2001 were paid in full today, according to the Ministry of Finance. The Bonds, Russia’s first eurobond issue, were initially sold to investors in November 1996.
Russia has not borrowed in the international capital markets since July 1998 and has not received any funding from the IMF since July 1999, while repaying almost $13 billion to foreign creditors since January 2000. «Russia’s payments of the 2001 Bonds from Russia’s own resources, without refinancing, confirms Russia’s strong financial position», stated Minister of Finance Alexsei Kudrin.
Russian Government Eurobonds have outperformed almost all other outstanding sovereign issues this year. Deputy Minister of Finance Sergei Kolotoukhin noted that the «significant increase in Russian debt prices reflects Russia’s improved economic situation and heightened investor confidence in Russia’s economic policies.»
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