Support The Moscow Times!

IIB Says Default Resolved

International Industrial Bank, controlled by Senator Sergei Pugachyov, said Sunday that it resolved defaults on 200 million euros ($258 million) of bonds after agreeing to extend payments in a meeting with holders.

“All acceptance conditions set forth in the notice of the meeting have been satisfied,” the lender said in a statement dated Friday. “All defaults that had been continuing have been fully resolved as of today.” 

(Bloomberg)


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.