Nordgold joined the ranks of Russian borrowers who, due to technical problems, were unable to make payments on Eurobonds on time.
The company was due to pay a $8.25 million Eurobond 2024 coupon on April 9 (usually, payments due on a weekend are automatically rolled over to the next business day after it).
Due to technical problems encountered by the issuer, Celtic Resources Holdings DAC, and Eurobond guarantors (they are Nordgold structures), the coupon was not paid on time with the transfer of funds to the account of the main paying agent, the company said.
p>The Company emphasizes that it has all the necessary financial resources to make payments on Eurobonds and will continue to interact with the trustee and paying agent on this issue.
At the end of February, the owner of Nordgold Alexei Mordashov was blacklisted by the European Union, in early March it became known that he transferred control of the gold miner to the mother of his children and left the board of directors.
