The largest Russian Internet company “Yandex” announced the impossibility of paying off all the holders of the company’s bonds, if they all use the right to demand a redemption on the issue of bonds for $ 1.25 billion on Friday, March 4. Later on the prospect of a “technical default on bonds” after March 8 reported another major domestic Internet company – Ozon.
Yandex, whose parent company Yandex NV is located in Amsterdam, the Netherlands, described in a statement the possible risks for itself in the face of sanctions against Russia due to a special military operation in Ukraine. The statement said that if all holders of its 0.25% 2025 Class A bonds totaling $1.25 billion demanded redemption on March 4, the company would not be able to pay all of its claims.