https://www.reuters.com/article/ukraine-crisis-yandex-bond/russias-yandex-lacks-funds-to-cover-potential-bond-redemption-idUKL5N2V71QF
"Russian internet giant Yandex on Friday warned that a trading suspension on its Nasdaq-listed shares could trigger a redemption right on a convertible bond that it does not have the resources to cover.
Yandex said that a suspension of trading of its Class A shares on Nasdaq of more than five trading days would give holders of those notes the right to require Yandex to redeem them at par plus accrued interest under the terms of its 0.75% convertible notes due in 2025.
“The current principal amount outstanding is $1.25 billion. In the event that such redemption right was triggered, we would be required to issue a notice within five calendar days informing the holders of the notes of their redemption rights,” Yandex said in a statement."
I'm no expert in economy, but to me this sounds like a house of cards starting to crumble. What kind of plans you think Putin had in case this starts happening? Declare Martial Law? Declare Russia as a communist dictatorship and say screw the market? Any thought from someone more familiar to this economy stuff?
