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Russia Evades Default Again as JPMorgan Processes Bond Payment
JPMorgan Chase & Co. processed a coupon payment from Russia for one of its dollar-denominated eurobonds, allowing the nation to continue sidestepping a default. JPMorgan, which is listed as a paying agent on the prospectus for Russia’s debt due in 2030, processed an $87.5 million coupon payment due on Thursday, according to a person familiar with the matter. The person declined to be named because they are not authorized to speak publicly. Questions arose over Russia’s ability to service its 2030 debt last week after Clearstream, the Luxembourg-based bank that was listed as the clearinghouse in bond ... (full story)
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