Press Releases

Renaissance Credit Informs About Coupon Payment on Subordinated Eurobonds

1 December 2022

Currently, there is one outstanding Subordinated Eurobond issue due December 2024 with semi-annual coupon of 10.00% per annum (ISIN: XS2011269912) issued by Renaissance Consumer Funding DAC (Ireland).

Given the current geopolitical situation the international financial infrastructure prevents Renaissance Credit (“the Bank”) from making payments to investors in accordance with the bond issue documentation. The Bank plans to make coupon payment for the period from June 13, 2022, till December 13, 2022 in accordance with the procedure set in the Decree of the President of the Russian Federation No. 95 “On Temporary Order of Settlement of Obligations to Certain Foreign Lenders” dated 5 March 2022 (“Decree No. 95”) and the Decree of the President of the Russian Federation No. 529 “On the temporary procedure for the performance of obligations under bank account (deposit) agreements denominated in foreign currency and obligations under bonds issued by foreign entities” dated 8 August 2022 (“Decree No. 529”). The payment is going to be made in Russian Rubles at a relevant exchange rate set by the Bank of Russia.

Investors should contact the Bank for payments on bonds subject to provisions of applicable laws and subject to the procedure agreed upon by the investor and the Bank. Please email your requests to: ir@rencredit.ru