“Yandex” has published a message to shareholders about the consequences of the restrictions imposed after the start of the Russian special operation in Ukraine. In it, the company warns that bondholders who suspended trading in the company’s securities on Nasdaq for more than five trading days have the right to demand repayment of the bonds at par and accrued interest. It is about bonds at 0.25% with maturity in 2025 in the amount of $1.25 billion.

Also from the message of the company it follows that at the moment it does not have sufficient resources to fully repay the bonds. Yandex warned that the redemption of bonds at par could have a significant impact on the financial position of liquidity in the short term and affect the company’s ability to fulfill other obligations.

A representative of Yandex clarified to vc.ru that under the rules of the exchange, the company must warn of “theoretically possible risks” even if they do not occur. According to him, there is no question of default, writes vc.ru.