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Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future
Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...
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Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki
The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...
14 october 2024
James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration
London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...
07 october 2024
Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products
Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...
30 september 2024
Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices
The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...
23 september 2024
ALROSA announces fulfilment of its Eurobond obligations
The company's press release said that as a result of the sanctions imposed on PJSC ALROSA (the "Company") and Alrosa Finance S.A., the issuer of two Note issues of Eurobonds in the amount of USD 500,000,000 each, maturing in 2024 and 2027, for which the Company acts as the guarantor, as well as other sanctions imposed by the United States of America, the European Union, and the United Kingdom in relation to the Russian Federation and Russian individuals, it has proven technically impossible for the Company to fulfil its regular coupon payment obligations on 9 April 2022 and 25 June 2022 under each of the Note issues (“the Coupons”).
In accordance with the Russian Federation Presidential Decrees No. 95, dated 5 March 2022, and No. 430, dated 5 July 2022, on 10 August 2022, the Company transferred funds to JSD NSD (National Settlement Depository) for onward transfer to Eurobond holders whose rights are recorded in the Russian depository infrastructure in accordance with the registers of Eurobond holders collated by 1 August 2022 as a result of the procedure to identify holders of ALROSA Eurobonds conducted by JSD NSD. The Coupon payments were made in Russian Federation roubles in accordance with the procedure determined by the Board of Directors of the Bank of Russia and stipulated in the Bank of Russia official clarification No.6-OR, dated 20 May 2022.
The fulfilment of Eurobond coupon payment obligations as stipulated in the terms and conditions of the issuing documentation to holders whose rights are registered in foreign depository infrastructure (in particular through the Euroclear, Clearstream, and DTC settlement and clearing systems) remains technically impossible due to the sanctions imposed on the Company.
The Company is fully committed to its Eurobond payment obligations and is taking all possible steps and measures to protect the interests of all its Eurobond holders in equal measure. The Company is considering possible ways in which it might fulfil its obligations in the current circumstances.
Vladimir Malakhov, Rough&Polished