The Ministry of Finance of Russia announced the start of the process of compensation for sovereign Eurobligations.
EUROBON holders can send offers to replace the ministry, and their approval is scheduled for December 5, the correspondent of The Moscow Post reports.
Eurobonds acquired in the period from August 8, 2024 to September 12, 2024 inclusive are subject to replacement. The terms of the substitution, including the size of the coupon income, its frequency, the repayment period and the nominal value, will correspond to the similar parameters of the replaced bonds. 
Offers will be divided into two types. Owners of the Eurobonds in the Russian depository are required to submit an offer no later than 18:00 Moscow time on November 14, 2024 (the first type).
If the rights of the holder are taken into account in a foreign depository and the replacement of the Eurobonds will not be a possible first way, then replacement will be carried out through the assignment of rights to the Eurobonds in favor of the Ministry of Finance.
Then the agency will transfer the replacing Eurobonds on the basis of applications of holders (second type). In this case, the offer can be submitted until 18:00 in Moscow on November 15, 2024.
The Board of Directors of the Bank of Russia also decided to limit transactions with replaced eurobonds for those holders who have submitted an application. To receive consultations, the Ministry recommends contacting its information partners and professional participants in the securities market.
Recall that the Eurobonds replacement program has been operating for two years. During this time, more than 80 issues for $ 28.2 billion were placed.
