November 29, 2017 / 8:20 AM / 19 days ago

Russian Standard Ltd continues talks with major bondholders

MOSCOW, Nov 29 (Reuters) - Russian Standard Ltd, a company linked to Rustam Tariko who owns Russian Standard Bank which defaulted on the Eurobond due on Oct. 27, 2022, continues talks with major holders of that Eurobond, the company’s spokesman said on Wednesday.

Oleg Yegorov added that the talks are being held in a ‘constructive’ way while activities of the Russian Standard Ltd, a special purpose vehicle registered in Bermuda, have no connection to the bank’s business.

The Eurobond was secured by a 49 percent stake in Russian Standard Bank. It was issued on Oct. 27, 2015, and $451 million is outstanding, Thomson Reuters data showed. (Reporting by Elena Orekhova; writing by Katya Golubkova; editing by Dmitry Solovyov)

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