4 ms·

it's already been 5 days by my count (hasn't traded since last Friday)

Scoundreller 5y ago
I guess we’re now at step2: > 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. Given: > The Yandex group as a whole does not currently have sufficient resources to redeem the Notes in full Yandex seems destined to bankruptcy and/or just walking away from the west. Uncertain who the $1.25b are owed to.
- brokensegue 5y ago
  Just because the right to redeem exists doesn't mean it will be used. Creditors might be unlikely to redeem if it they knew it would result in a default.
  - stefan_ 5y ago
    Except their claim is over a holding company that has lost all hold over it's actual profit generating subsidiaries: > In the event that we were prevented from distributing additional funds from our Russian subsidiaries to our Dutch parent company, Yandex would not have sufficient resources to redeem a majority of the Notes Better take the 50% haircut than the long game that gets you nothing.
    - Scoundreller 5y ago
      At least 50% haircut.
  - 908B64B197 5y ago
    Would be a shame if the US government forced creditors to redeem because of the sanctions.
    - whimsicalism 5y ago
      It would be ridiculous.
      - 908B64B197 5y ago
        Why so? There's a risk foreign currency held by Yandex might be sold to RUB per a Russian government order. I'd rather have shareholders cash out than have these assets fall into the hands of sanctioned entities.
  - paxys 5y ago
    If it was a single creditor they could evaluate the situation and make an optimal decision. If it's a group of them, now you have a prisoner's dilemma. You don't want to be the last one pondering your move when everyone else has already redeemed their share and left the bag empty.
  - vmception 5y ago
    but any one of us can buy one of the bonds and trigger the right theyre probably trading at a substantial discount!
- vmception 5y ago
  Double dog dare you to buy their bonds at the discount and trigger the redemption right

I guess we’re now at step2: > 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. Given: > The Yandex group as a whole does not currently have sufficient resources to redeem the Notes in full Yandex seems destined to bankruptcy and/or just walking away from the west. Uncertain who the $1.25b are owed to.

brokensegue 5y ago
Just because the right to redeem exists doesn't mean it will be used. Creditors might be unlikely to redeem if it they knew it would result in a default.
- stefan_ 5y ago
  Except their claim is over a holding company that has lost all hold over it's actual profit generating subsidiaries: > In the event that we were prevented from distributing additional funds from our Russian subsidiaries to our Dutch parent company, Yandex would not have sufficient resources to redeem a majority of the Notes Better take the 50% haircut than the long game that gets you nothing.
  - Scoundreller 5y ago
    At least 50% haircut.
- 908B64B197 5y ago
  Would be a shame if the US government forced creditors to redeem because of the sanctions.
  - whimsicalism 5y ago
    It would be ridiculous.
    - 908B64B197 5y ago
      Why so? There's a risk foreign currency held by Yandex might be sold to RUB per a Russian government order. I'd rather have shareholders cash out than have these assets fall into the hands of sanctioned entities.
- paxys 5y ago
  If it was a single creditor they could evaluate the situation and make an optimal decision. If it's a group of them, now you have a prisoner's dilemma. You don't want to be the last one pondering your move when everyone else has already redeemed their share and left the bag empty.
- vmception 5y ago
  but any one of us can buy one of the bonds and trigger the right theyre probably trading at a substantial discount!
vmception 5y ago
Double dog dare you to buy their bonds at the discount and trigger the redemption right