Russian cloud and search giant Yandex warned that it might default on its debt, after it was suspended from trading on New York’s stock exchange.
The company avoided immediately defaulting by paying a coupon due Thursday. Its Netherlands-based division transferred $4.7 million to holders of its $1.25 billion bond due 2025.
Yandex’s debt has lost more than half its value in the past week, according to Trade Reporting and Compliance Engine (TRACE) pricing.
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