The funds will be used to meet the obligations of companies to holders of their Eurobonds.
The Russian government has allocated a total of 130 billion rubles in preferential loans to VK, Ozon and Yandex. The money will be used to secure the company's obligations to the holders of their Eurobonds, which became necessary after the start of the special operation in Ukraine. This was reported by Kommersant.
According to analysts, direct support of private bondholders by the state is an unprecedented measure. The fact is that VK, Ozon and Yandex have a high systemic importance for the Russian economy and the state cannot allow them to default.
After the start of the military special operation, Western stock exchanges suspended trading in the shares of these companies. In such a case the holders of the shares have the right to redeem them before their maturity, for which the companies have to have sufficient funds for redemption.
The Ministry of Finance confirmed that major Russian Internet companies were given a preferential loan of 130 billion rubles to refinance their debts, because trading in their securities was suspended.