Rusnano bonds collapse due to threat of default

Rusnano securities fell more than 10% due to the threat of default

trading in Rusnano bonds after they were suspended on Friday, November 19, in response to an order from the Central Bank. Soon after the ban was lifted, all issues of securities of the state company collapsed, according to the data of the site.

The issue with maturity on December 1, 2021, as of 10:30, lost 13 percent, the cost of the bond fell to 87 rubles.

Issues maturing in December 2023 and March 2024 fall by almost 20 percent, and with maturities in March 2028 – by more than 10 percent.

As a rule, such problems involve debt restructuring or default, but for a state-owned company (100 percent of the shares belong to the state) the situation has become unprecedented.

Experts believe that the crisis in Rusnano will hit all state-owned companies, because their ratings included state guarantees. However, they see a default as unlikely, since the losses of all other market participants, including Gazprom, GTLK, Aeroflot, may turn out to be too serious.

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