Yandex repurchases 93.2% of its convertible bonds

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AK&M 20 June 2022 16:54

Yandex has agreed with holders of 93.2% of convertible bonds to buy them back. We are talking about Yandex bonds issued in 2020 and maturing in March 2025, the company said.

It is expected that the 93.2% bond repurchase transaction will be closed on June 22, 2022, as the main conditions necessary for the transaction have already been fulfilled.

Under the terms of the agreement, for every $200 thousand of the nominal value of the bonds, bondholders will receive $140 thousand and 957 shares of Yandex N.V.

Yandex is a Russian multinational company in the field of information technology. The Yandex search engine is the fourth among the world's search engines in terms of the number of requests processed.